FINANCIAL MARKET HEADLINES
| MOROCCO | CRÉDIT DU MAROC | Admissibility of the Takeover bid at the initiative of HFC and AtlantaSanad
AMMC examined the Takeover bid targeting CDM shares filed at the initiative of Holmarcom Finance Company and AtlantaSanad on December 9th 2022. AMMC declares admissible the proposed project at a unit price of MAD 502. In this context, trading re-sumption of CDM stock is scheduled on January 19th 2023.
| MOROCCO | TIMAR | An agreement for the takeover of Timar by Clasquin Group
In a press release, Puech family Group and Clasquin Group announce the signing of an agreement for the takeover of Timar Group by Clasquin Group.
The parties have entered into exclusive negotiations for the acquisition by Clasquin Group of 63.57% stake in Timar’s capital and voting rights held by the members of Puech Group. This acquisition would be followed by a mandatory takeover bid for the re-maining of Timar's capital.
The achievement of this transaction is subject to the prior authorization of the Moroccan authorities (Competition council). Subject to ongoing negotiations and the lifting of suspensive conditions, the completion is planned for the first half of 2023.
ECONOMIC HEADLINES
| CÔTE D’IVOIRE | INFLATION | An inflation rate of 5.1% in December 2022
According to Côte d’Ivoire’s National Institute of Statistics, the Harmonized Consumer Prices Index recorded an increase of 0.5% in December 2022 compared to the previous month. Year-on-year, the inflation rate stands at 5.1%.
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