It's official: Saham Finances has completed the acquisition of 57.67% of the capital of Société Générale Marocaine de Banques (SGMB) and La Marocaine Vie from Société Générale S.A. This transaction, announced on Tuesday, December 3, follows the receipt of all necessary regulatory approvals. The agreement, signed in April 2024, amounts to 745 million euros (approximately 8 billion dirhams). This deal allows the Saham group to take control of all Société Générale Maroc's activities, as well as those of its insurance subsidiary, La Marocaine Vie, previously owned by Sogécap. In addition, Saham Finances plans to launch a public offer to purchase Eqdom shares in partnership with SGMB and Investima. In a statement, the group expressed its satisfaction with the opportunity to support SGMB and its subsidiaries in better meeting their clients' needs. This acquisition also marks the return of Moulay Hafid Elalamy to the financial sector, following his withdrawal in 2018. At that time, he sold Saham Assurance to the South African company Sanlam for an amount exceeding one billion dollars.
