Norton Rose Fulbright with Société Générale on €745m sale

Norton Rose Fulbright has advised Société Générale on the €745 million sale of its Moroccan subsidiary Société Générale Marocaine de Banques (SGMB), and 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 team

The Norton Rose Fulbright team which advised Société Générale on this complex transaction was from Paris and Casablanca. It was led by corporate partner Alain Malek (pictured), 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.