Evolution of CDG's participation in Atlanta
Holmarcom and CDG on Monday 14 April made a transaction where CDG transferred 30% of the capital of Atlanta to Holmarcom.
This transaction, representing a total amount of 1.2 billion dirhams, forms part of the management investment strategy of the two groups.
The Holmarcom Group now holds 70% of Atlanta’s capital after buying 18,057,131 of its shares from CDG.
The CDG Group, a major shareholder in Atlanta since 2006, supports the company‘s entry into the Casablanca stock market and its plans to modernize and develop its business in the Moroccan insurance market.
CDG Group nevertheless still remains a key shareholder in Atlanta and continues to sit on its Board. It also intends to continue its relationship with the company by developing business collaboration with its operational activities.
The increase of the Holmarcom Group’s share of Atlanta’s capital constitutes part of its will to expand its financial sector. With its two companies, Atlanta and Sanad, Holmarcom intends in fact to strengthen its share of the insurance market in Morocco, while opening itself to new opportunities for development abroad. It expects also to pursue its policy of optimization through strengthening collaboration between the two institutions.