Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
11 October 2018
Deals | Africa | M&A
France's second largest banking group Groupe BPCE is entering exclusive negotiations with the Banque Centrale Populaire group in Morocco, with a view to divesting equity interests held by BPCE International in Africa:
This project would give the banks concerned the backing of a financial and industrial partner possessing solid experience in the banking field, and capable of further developing their business in Africa.
This proposed divestment of banking interests in Africa to the Moroccan banking group BCP is in line with Groupe BPCE’s strategy of refocusing on sectors and regions considered to be priorities for developing the Group’s business lines, and follows on from the divestment of Banque des Mascareignes to BCP announced back in February.
The project will shortly be presented to BPCE International’s employee representative bodies by means of an information-consultation procedure. The proposed agreement will also be subject to the usual condition precedents for this type of transaction, and particularly to the approval of regulators in Morocco and in the various territories concerned.
The Gide team advising Groupe BPCE was headed by partners Antoine Lelong and Julien David from the firm's Mergers & Acquisitions/Corporate practice group, with associates Anne Chiappa, Julia Michorczyk, Abel Colomb and Clémence Dubreuil. Partner Magali Buchert also advised on the operation on tax aspects, as well as partner Emmanuel Reille on aspects related to merger control.
The Moroccan group BCP was advised by Allen & Overy - Naciri & Associés.
