In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation as amended and supplemented, the Competition Council makes available to the public the \u201csummary of the operation\u201d below, containing the information provided by the parties.<\/p>\n
This information was prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.<\/p>\n
The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.<\/p>\n
Names of the companies and groups concerned:<\/strong><\/p>\n Economic sectors concerned:<\/strong><\/p>\n Deadline for interested third parties to submit their observations:<\/strong><\/p>\n NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES<\/strong><\/p>\n The Competition Council received notification of an economic concentration operation concerning the acquisition of exclusive control of the company \u201cPalmassets SA\u201d by the company \u201cPick Albatros Holding for Financial Investments\u201d through the acquisition of 100% of its share capital and related voting rights.<\/p>\n \u201cPick Albatros Holding for Financial Investments\u201d, an Egyptian company, is an owner and operator of tourist complexes and hotels. The Pick Albatros group specializes in the development and management of a wide variety of hotel and tourist properties located in Egypt and Morocco.<\/p>\n \u201cPalmassets SA\u201d, a Moroccan company whose purpose is the acquisition, ownership, administration, and operation by all means of all real estate assets as well as the enhancement of these real estate assets. The company owns \u201cPalmeraie Rotana Resort\u201d (composed of three hotels: Palmeraie Golf Palace, Hotel du Golf Rotana Palmeraie, and Golf Club Rotana).<\/p>\n <\/p>\n Done in Rabat on September 5, 2024.<\/p>\n","protected":false},"excerpt":{"rendered":" In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation as amended and supplemented, the Competition Council makes available to the public the \u201csummary of the operation\u201d below, containing the information provided by the parties. This information was prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation. The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented. Names of the companies and groups concerned: The acquirer: The company \u201cPick Albatros Holding for Financial Investments\u201d; The target: The company \u201cPalmassets SA\u201d. Nature of the operation: Acquisition of exclusive control. Economic sectors concerned: Hotel services. Deadline for interested third parties to submit their observations: 10 days from the date of publication of this press release, i.e. September 16, 2024. NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES The Competition Council received notification of an economic concentration operation concerning the acquisition of exclusive control of the company \u201cPalmassets SA\u201d by the company \u201cPick Albatros Holding for Financial Investments\u201d through the acquisition of 100% of its share capital and related voting rights. \u201cPick Albatros Holding for Financial Investments\u201d, an Egyptian company, is an owner and operator of tourist complexes and hotels. The Pick Albatros group specializes in the development and management of a wide variety of hotel and tourist properties located in Egypt and Morocco. \u201cPalmassets SA\u201d, a Moroccan company whose purpose is the acquisition, ownership, administration, and operation by all means of all real estate assets as well as the enhancement of these real estate assets. The company owns \u201cPalmeraie Rotana Resort\u201d (composed of three hotels: Palmeraie Golf Palace, Hotel du Golf Rotana Palmeraie, and Golf Club Rotana). Done in Rabat on September 5, 2024.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[352],"tags":[],"class_list":["post-40832","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"\n\n
\nNature of the operation:<\/strong><\/p>\n\n
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