CASABLANCA – Allen & Overy (A&O) advised the Moroccan banking group, Banque Centrale Populaire (BCP), on its offer for the acquisition, from the French group BPCE of:
The transaction will shortly be presented to BPCE International’s employee representative bodies by means of an information-consultation procedure and shall be subject to the usual conditions precedent for this type of transaction, and particularly, the approval of local regulators in Morocco, Tunisia, Congo, Cameroun and Madagascar.
This operation follows the former acquisition, announced last February, by BCP from BPCE of Banque des Mascareignes, a leading bank in Mauritius.
This deal will strengthen BCP’s presence on the African continent with a geographical coverage of 17 countries.
The A&O Team was led by partner, Hicham Naciri, assisted by counsel, Younes Maleh, and corporate associate, Omar Zizi.