Norton Rose Fulbright advises Société Générale on the €745m sale of Société Générale Marocaine de Banques and La Marocaine Vie

Global law firm Norton Rose Fulbright has advised Société Générale on the sale of its Moroccan subsidiary Société Générale Marocaine de Banques (SGMB) as well as its insurance subsidiary La Marocaine Vie to Saham Group.

As part of this transaction, and following the signing of the sale agreements in April 2024 and the delivery of the necessary regulatory approvals, Société Générale has sold all of its shares in SGMB capital (57,67%) and Sogécap sold all of its shares in the capital of the insurance company La Marocaine Vie, for a total amount of €745 million.

Pursuant to this deal, Société Générale and Saham have outlined a long-term commercial partnership to offer new development prospects for banking activities in Morocco.

The multidisciplinary Norton Rose Fulbright team from across Paris and Casablanca which advised Société Générale on this complex transaction was led by corporate partner Alain Malek, assisted by counsel Anne-Laure Bernard Bouissières and associate Yasmine Najid. Partner Roberto Cristofolini, assisted by special counsel Aurélie Pélisson and associate Sonia Aït-Ammar, advised on regulatory and stock exchange aspects of the deal. Partner Nadège Martin, assisted by counsel Clément Monnet and associate Geoffroy Coulouvrat, advised on tech and IP-related law. Competition law advise was provided by partner Marta Giner Asins, assisted by counsel Arnaud Sanz. Partner Alexandre Roth assisted by associate Fabien Communier advised on the financing aspects of the transaction.