{"id":48535,"date":"2026-08-28T10:25:53","date_gmt":"2026-08-28T10:25:53","guid":{"rendered":"https:\/\/conseil-concurrence.ma\/communique-du-conseil-de-la-concurrence-relatif-au-projet-de-concentration-economique-concernant-la-prise-du-controle-conjoint-indirect-par-la-societe-horizon-capitalize-sas-et-la-societe\/"},"modified":"2026-08-31T10:30:35","modified_gmt":"2026-08-31T10:30:35","slug":"press-release-from-the-competition-council-regarding-the-economic-concentration-project-concerning-the-indirect-joint-control-acquisition-by-the-company-horizon-capitalize-sas-and-th","status":"publish","type":"post","link":"https:\/\/conseil-concurrence.ma\/en\/press-release-from-the-competition-council-regarding-the-economic-concentration-project-concerning-the-indirect-joint-control-acquisition-by-the-company-horizon-capitalize-sas-and-th\/","title":{"rendered":"Press release from the Competition Council regarding the economic concentration project concerning the indirect joint control acquisition by the company \u201cHorizon Capitalize SAS\u201d and the company \u201cICG Plc.\u201d of the company \u201cCircet Holding SAS\u201d and its subsidiaries"},"content":{"rendered":"<p>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 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the \u201coperation summary\u201d below, containing the information provided by the parties.<\/p>\n<p>This information has been 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&#8217;s position on the proposed operation.<\/p>\n<p>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 issued for the implementation of Law No. 104-12 on freedom of prices and competition, as amended and supplemented.<\/p>\n<p><strong>Names of the companies and groups involved:<\/strong><\/p>\n<ul>\n<li><strong>The acquirers:<\/strong><\/li>\n<li>\u201cHorizon Capitalize SAS\u201d;<\/li>\n<li>\u201cICG Plc.\u201d;<\/li>\n<li><strong>The target:<\/strong> \u201cCircet Holding SAS\u201d.<\/li>\n<\/ul>\n<p><strong>Nature of the operation:<\/strong><\/p>\n<ul>\n<li>Indirect joint control acquisition.<\/li>\n<\/ul>\n<p><strong>Economic sectors concerned:<\/strong><\/p>\n<ul>\n<li>The telecommunications sector.<\/li>\n<\/ul>\n<p><strong>Deadline for interested third parties to submit their observations:<\/strong><\/p>\n<ul>\n<li>10 days from the date of publication of this press release, i.e., September 9, 2026.<\/li>\n<\/ul>\n<p><strong>NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES<\/strong><\/p>\n<p>The Competition Council received notification of an economic concentration project consisting of the indirect joint control acquisition by the company \u201cHorizon Capitalize SAS\u201d of the company \u201cCircet Holding SAS\u201d and its subsidiaries, alongside the company \u201cICG Plc.\u201d, which currently controls it ultimately.<\/p>\n<p>\u201cICG Plc.\u201d is a public limited company under English law, registered with the Companies House in the United Kingdom under number 02234775 and headquartered at Procession House, 55 Ludgate Hill, London EC4M 7JW, United Kingdom. It is a global manager of alternative assets, particularly in structured private equity, private debt, real assets, and credit. These assets are present in Europe, Asia-Pacific, and the United States.<\/p>\n<p>\u201cHorizon Capitalize SAS\u201d is a simplified joint-stock company under French law, registered with the Paris Trade and Companies Register under number 106 870 538 and headquartered at Building A, 64-64 bis rue La Bo\u00e9tie, 75008 Paris, France. The company was created to consolidate the interests of the executives of the company \u201cCircet Holding SAS\u201d and structure their investment in the context of the operation. The company \u201cHorizon Capitalize SAS\u201d is ultimately controlled by Mr. Philippe Lamazou.<\/p>\n<p>\u201cCircet Holding SAS\u201d is a simplified joint-stock company under French law, registered with the Paris Trade and Companies Register under number 901 327 379 and headquartered at 64, rue La Bo\u00e9tie, 75008 Paris, France. This company is active in the telecommunications sector, specifically in the installation and maintenance of telecommunications networks.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: right;\">Done in Rabat on August 28, 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the \u201coperation summary\u201d below, containing the information provided by the parties. This information has been 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&#8217;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 issued for the implementation of Law No. 104-12 on freedom of prices and competition, as amended and supplemented. Names of the companies and groups involved: The acquirers: \u201cHorizon Capitalize SAS\u201d; \u201cICG Plc.\u201d; The target: \u201cCircet Holding SAS\u201d. Nature of the operation: Indirect joint control acquisition. Economic sectors concerned: The telecommunications sector. Deadline for interested third parties to submit their observations: 10 days from the date of publication of this press release, i.e., September 9, 2026. NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES The Competition Council received notification of an economic concentration project consisting of the indirect joint control acquisition by the company \u201cHorizon Capitalize SAS\u201d of the company \u201cCircet Holding SAS\u201d and its subsidiaries, alongside the company \u201cICG Plc.\u201d, which currently controls it ultimately. \u201cICG Plc.\u201d is a public limited company under English law, registered with the Companies House in the United Kingdom under number 02234775 and headquartered at Procession House, 55 Ludgate Hill, London EC4M 7JW, United Kingdom. It is a global manager of alternative assets, particularly in structured private equity, private debt, real assets, and credit. These assets are present in Europe, Asia-Pacific, and the United States. \u201cHorizon Capitalize SAS\u201d is a simplified joint-stock company under French law, registered with the Paris Trade and Companies Register under number 106 870 538 and headquartered at Building A, 64-64 bis rue La Bo\u00e9tie, 75008 Paris, France. The company was created to consolidate the interests of the executives of the company \u201cCircet Holding SAS\u201d and structure their investment in the context of the operation. The company \u201cHorizon Capitalize SAS\u201d is ultimately controlled by Mr. Philippe Lamazou. \u201cCircet Holding SAS\u201d is a simplified joint-stock company under French law, registered with the Paris Trade and Companies Register under number 901 327 379 and headquartered at 64, rue La Bo\u00e9tie, 75008 Paris, France. This company is active in the telecommunications sector, specifically in the installation and maintenance of telecommunications networks. &nbsp; Done in Rabat on August 28, 2026.<\/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-48535","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Press release from the Competition Council regarding the economic concentration project concerning the indirect joint control acquisition by the company \u201cHorizon Capitalize SAS\u201d and the company \u201cICG Plc.\u201d of the company \u201cCircet Holding SAS\u201d and its subsidiaries - Conseil de la concurrence du Maroc<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/conseil-concurrence.ma\/en\/press-release-from-the-competition-council-regarding-the-economic-concentration-project-concerning-the-indirect-joint-control-acquisition-by-the-company-horizon-capitalize-sas-and-th\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Press release from the Competition Council regarding the economic concentration project concerning the indirect joint control acquisition by the company \u201cHorizon Capitalize SAS\u201d and the company \u201cICG Plc.\u201d of the company \u201cCircet Holding SAS\u201d and its subsidiaries - Conseil de la concurrence du Maroc\" \/>\n<meta property=\"og:description\" content=\"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 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the \u201coperation summary\u201d below, containing the information provided by the parties. This information has been 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&#8217;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 issued for the implementation of Law No. 104-12 on freedom of prices and competition, as amended and supplemented. Names of the companies and groups involved: The acquirers: \u201cHorizon Capitalize SAS\u201d; \u201cICG Plc.\u201d; The target: \u201cCircet Holding SAS\u201d. Nature of the operation: Indirect joint control acquisition. Economic sectors concerned: The telecommunications sector. Deadline for interested third parties to submit their observations: 10 days from the date of publication of this press release, i.e., September 9, 2026. NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES The Competition Council received notification of an economic concentration project consisting of the indirect joint control acquisition by the company \u201cHorizon Capitalize SAS\u201d of the company \u201cCircet Holding SAS\u201d and its subsidiaries, alongside the company \u201cICG Plc.\u201d, which currently controls it ultimately. \u201cICG Plc.\u201d is a public limited company under English law, registered with the Companies House in the United Kingdom under number 02234775 and headquartered at Procession House, 55 Ludgate Hill, London EC4M 7JW, United Kingdom. It is a global manager of alternative assets, particularly in structured private equity, private debt, real assets, and credit. These assets are present in Europe, Asia-Pacific, and the United States. \u201cHorizon Capitalize SAS\u201d is a simplified joint-stock company under French law, registered with the Paris Trade and Companies Register under number 106 870 538 and headquartered at Building A, 64-64 bis rue La Bo\u00e9tie, 75008 Paris, France. The company was created to consolidate the interests of the executives of the company \u201cCircet Holding SAS\u201d and structure their investment in the context of the operation. The company \u201cHorizon Capitalize SAS\u201d is ultimately controlled by Mr. Philippe Lamazou. \u201cCircet Holding SAS\u201d is a simplified joint-stock company under French law, registered with the Paris Trade and Companies Register under number 901 327 379 and headquartered at 64, rue La Bo\u00e9tie, 75008 Paris, France. 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Conseil de la concurrence du Maroc","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/conseil-concurrence.ma\/en\/press-release-from-the-competition-council-regarding-the-economic-concentration-project-concerning-the-indirect-joint-control-acquisition-by-the-company-horizon-capitalize-sas-and-th\/","og_locale":"en_US","og_type":"article","og_title":"Press release from the Competition Council regarding the economic concentration project concerning the indirect joint control acquisition by the company \u201cHorizon Capitalize SAS\u201d and the company \u201cICG Plc.\u201d of the company \u201cCircet Holding SAS\u201d and its subsidiaries - Conseil de la concurrence du Maroc","og_description":"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 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the \u201coperation summary\u201d below, containing the information provided by the parties. This information has been 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&#8217;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 issued for the implementation of Law No. 104-12 on freedom of prices and competition, as amended and supplemented. Names of the companies and groups involved: The acquirers: \u201cHorizon Capitalize SAS\u201d; \u201cICG Plc.\u201d; The target: \u201cCircet Holding SAS\u201d. Nature of the operation: Indirect joint control acquisition. Economic sectors concerned: The telecommunications sector. Deadline for interested third parties to submit their observations: 10 days from the date of publication of this press release, i.e., September 9, 2026. NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES The Competition Council received notification of an economic concentration project consisting of the indirect joint control acquisition by the company \u201cHorizon Capitalize SAS\u201d of the company \u201cCircet Holding SAS\u201d and its subsidiaries, alongside the company \u201cICG Plc.\u201d, which currently controls it ultimately. \u201cICG Plc.\u201d is a public limited company under English law, registered with the Companies House in the United Kingdom under number 02234775 and headquartered at Procession House, 55 Ludgate Hill, London EC4M 7JW, United Kingdom. It is a global manager of alternative assets, particularly in structured private equity, private debt, real assets, and credit. These assets are present in Europe, Asia-Pacific, and the United States. \u201cHorizon Capitalize SAS\u201d is a simplified joint-stock company under French law, registered with the Paris Trade and Companies Register under number 106 870 538 and headquartered at Building A, 64-64 bis rue La Bo\u00e9tie, 75008 Paris, France. The company was created to consolidate the interests of the executives of the company \u201cCircet Holding SAS\u201d and structure their investment in the context of the operation. The company \u201cHorizon Capitalize SAS\u201d is ultimately controlled by Mr. Philippe Lamazou. \u201cCircet Holding SAS\u201d is a simplified joint-stock company under French law, registered with the Paris Trade and Companies Register under number 901 327 379 and headquartered at 64, rue La Bo\u00e9tie, 75008 Paris, France. This company is active in the telecommunications sector, specifically in the installation and maintenance of telecommunications networks. &nbsp; Done in Rabat on August 28, 2026.","og_url":"https:\/\/conseil-concurrence.ma\/en\/press-release-from-the-competition-council-regarding-the-economic-concentration-project-concerning-the-indirect-joint-control-acquisition-by-the-company-horizon-capitalize-sas-and-th\/","og_site_name":"Conseil de la concurrence du Maroc","article_published_time":"2026-08-28T10:25:53+00:00","article_modified_time":"2026-08-31T10:30:35+00:00","author":"Youssef OTMANE","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Youssef OTMANE","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/conseil-concurrence.ma\/en\/press-release-from-the-competition-council-regarding-the-economic-concentration-project-concerning-the-indirect-joint-control-acquisition-by-the-company-horizon-capitalize-sas-and-th\/#article","isPartOf":{"@id":"https:\/\/conseil-concurrence.ma\/en\/press-release-from-the-competition-council-regarding-the-economic-concentration-project-concerning-the-indirect-joint-control-acquisition-by-the-company-horizon-capitalize-sas-and-th\/"},"author":{"name":"Youssef OTMANE","@id":"https:\/\/conseil-concurrence.ma\/en\/#\/schema\/person\/03683379dc5edfcb3044e506a05bdf1b"},"headline":"Press release from the Competition Council regarding the economic concentration project concerning the indirect joint control acquisition by the company \u201cHorizon Capitalize SAS\u201d and the company \u201cICG Plc.\u201d of the company \u201cCircet Holding SAS\u201d and its subsidiaries","datePublished":"2026-08-28T10:25:53+00:00","dateModified":"2026-08-31T10:30:35+00:00","mainEntityOfPage":{"@id":"https:\/\/conseil-concurrence.ma\/en\/press-release-from-the-competition-council-regarding-the-economic-concentration-project-concerning-the-indirect-joint-control-acquisition-by-the-company-horizon-capitalize-sas-and-th\/"},"wordCount":458,"articleSection":["Press Releases"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/conseil-concurrence.ma\/en\/press-release-from-the-competition-council-regarding-the-economic-concentration-project-concerning-the-indirect-joint-control-acquisition-by-the-company-horizon-capitalize-sas-and-th\/","url":"https:\/\/conseil-concurrence.ma\/en\/press-release-from-the-competition-council-regarding-the-economic-concentration-project-concerning-the-indirect-joint-control-acquisition-by-the-company-horizon-capitalize-sas-and-th\/","name":"Press release from the Competition Council regarding the economic concentration project concerning the indirect joint control acquisition by the company \u201cHorizon Capitalize SAS\u201d and the company \u201cICG Plc.\u201d of the company \u201cCircet Holding SAS\u201d and its subsidiaries - 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