Banking, finance and capital markets in Morocco
Fraikech Associés
Praxisleiter:
Oussama Fraikech; Abderrahmane Fraike
Weitere Kernanwälte:
Basma Rhissassi
Kernmandanten
Crédit du Maroc
Valoris Group
BMCE Capital Real Estate
Arrawaj
Unilever
GIMAS
Finance in Motion
Soprima
Highlight-Mandate
- Acted for foreign finance companies, such as Finance in Motion, on transactions involving loans to Moroccan finance companies.
- Advised construction companies on build-to-let factories and commercial premises on a turnkey basis. Particularly, for our client Soprima Immobilier.
- Acted for Valoris Group, an investment bank, managing, among other entities, various funds, on many corporate and M&A transactions. Acted for Valoris on the migration of properties to OPCIs (Organisme Collectif de Placement Immobilier) and acted on bond issues.
A&O Shearman
A&O Shearman advises on the full scope of banking products including corporate and syndicated loans, both secured and unsecured, receivables financing, project finance, and ECA-backed financing. Hicham Naciri heads the team with his project finance, structured finance, regulatory, and general foreign investments experience. Yassir Ghorbal has project finance and capital markets expertise and his client list includes major companies such as Finance Com Group and BMCE. Antoine Haddad concentrates on the development and financing of projects across Africa.
Praxisleiter:
Hicham Naciri; Yassir Ghorbal; Antoine Haddad
Kernmandanten
Veolia Environnement
Sanlam
CFG Bank
Highlight-Mandate
- Advised CFG Bank as issuer’s counsel on its initial public offering (IPO) on the Casablanca Stock Exchange (CSE).
- Advised Sanlam Group and Allianz Group in connection with the mandatory tender offer over Sanlam Maroc shares, a company listed on the Casablanca Stock Exchange.
ASAFO & CO. MOROCCO Sarl
ASAFO & CO. MOROCCO Sarl has strong capabilities in the areas of corporate lending, acquisition finance, project finance, and asset finance. The firm’s experience advising borrowers, lenders, and sponsors provides it with broad experience across banking transactions. Department head Patrick Larrivé regularly advises on large-scale projects and counts financial institutions, private companies, developers, investors, and governments among his clients. Louis Dubois brings his expertise in public contracts and private finance initiative, public real estate, and public finance to the team.
Praxisleiter:
Patrick Larrivé; Louis Dubois
Kernmandanten
Coris Group
Côte d’Ivoire government
Advanced Finance and Investment Group (“AFIG Funds”)
Nouvelle Mici Embaci (NME)
AfricInvest
IFC
Amethis
Proparco
Upline Corporate Finance
West African Development Bank (BOAD)
Banque Atlantique CI
EDFIMC NV
Valoris Capital
Highlight-Mandate
- Advised AFIG Funds (AFIG) and NME (Nouvelle Mici Embaci) in Injaro Investment Advisors’ equity investment in NME, a major packaging company in Côte d’Ivoire.
- Advised Valoris Capital on the first Moroccan investment fund exclusively dedicated to the energy transition, Valoris Alternative Investments Fund (VAIF).
- Advised a consortium of investors – AfricInvest, Amethis, IFC and Proparco – in their acquisition of a majority stake in Netis, a pan-African telecom infrastructure service provider operating in 15 African countries.
Clifford Chance
Clifford Chance advises on an array of banking, capital markets, and financing transactions, including Islamic finance, acquisition finance, cross-border financing, and general corporate lending. As a market leader with ‘solid experience’ in project finance and project development, the firm has been involved in major energy, mining, and infrastructure projects in Morocco. It regularly advises international and African investors, lenders, sponsors, and governments. Practice co-heads Mustapha Mourahib and Ouns Lemseffer, supported by Meriem Komiha, are regularly involved in project financing. Lemseffer and Komiha also advise on structured financing, financial regulation, regulatory, and capital market operations.
Praxisleiter:
Mustapha Mourahib; Ouns Lemseffer.
Weitere Kernanwälte:
Meriem Komiha; Youssef Tork; Yasmine Hitane.
Referenzen
‘The CC team in Morocco has vast knowledge regarding the local practices mixed with know-how on international procedures. This allows us to keep the process moving as smoothly as possible.’
‘The availability of the full team has been remarkable from the beginning of the project.’
‘The big plus is the connection between all the Clifford Chance offices, they are like a big team. We can therefore have access to different expertise when needed.’
Kernmandanten
Emerging Africa Infrastructure Fund (EAIF)
European Bank for Reconstruction & Development (EBRD)
MASEN
ONHYM
Acciona Agua S.A
Green of Africa
Afriquia Gaz
Le Fonds Mohammed VI pour l’Investissement
US International Development Finance Corporation (DFC)
Enel Green Power Morocco
SNOP Tanger
Banque Centrale Populaire
Atlantic Business International
Nareva Holding
Attijariwafa Bank
Bank of Africa
Mohammed VI Polytechnic University (UM6P)
OCP
JORF FERTILIZERS COMPANY III SA
A.P. Moller
Ninety One
Innov X
IFC
Omni Bridgeway
Highlight-Mandate
- Advising Acciona Agua, Green of Africa S.A., and Afriquia Gaz on their successful bid for the development, financing, and operation of a desalination plant in Casablanca to supply 300 million m3 of water per year.
- Advising CIMAF/CIMAT as the borrower and sponsor in respect of the facilities to be provided by IFC, Proparco, and EAIF in order for the borrowers to expand the existing cement grinding facilities in Ghana and Mali and build a new state-of-the-art integrated cement plant in Senegal.
- Advised IFC and EAIF in their investment regarding a public securitisation of (i) telecom receivables and (ii) employee loans in Senegal, and originated by Sonatel, a leading West African telecoms carrier with the largest network in Senegal.
Norton Rose Fulbright
Norton Rose Fulbright’s banking and finance team is well-equipped to provide advice on banking operations, project financing, financial restructuring, and corporate lending transactions. Leading the team is corporate specialist Alain Malek who advises Moroccan and international corporations and financial institutions across sectors including banking, insurance, energy, infrastructure, and telecoms. Roberto Cristofolini specialises in capital markets, banking, and asset management, including the creation of all types of investment funds and financial and stock market regulation. Sara Benjelloun recently joined the capital markets team.
Praxisleiter:
Alain Malek; Roberto Cristofolini.
Weitere Kernanwälte:
Anne-Laure Bernard-Bouissières; Aurélie Pélisson; Sara Benjelloun.
Kernmandanten
Moroccan Ministry of Economy and Finance
Attijariwafa Bank
HPS
Banque centrale Populaire
Nama Holding
Société de Dessalement d’Eau d’Agadir (SEDA)
Highlight-Mandate
- Advised the lenders in the context of the financing of the acquisition by Sucden of a 10% stake in Cosumar.
- Advising Hightech Payment Systems (HPS), listed on the Casablanca Stock Exchange, with respect to an increase in capital reserved to managers and employees of the group, via the subscription of stock options.
- Advised the Ministry of Economy and Finance of Morocco, together with the World Bank Group (acting under its Joint Capital Markets Program – J-CAP), on the law n°58-22 amending and supplementing law n°41-05 on private equity funds (OPCCs), adopted in September 2023
Gide Loyrette Nouel
Gide Loyrette Nouel covers all aspects of financing transactions, including structured finance with a focus on securitisation and bond issuance. The firm also advises foreign banks and institutions on local banking and capital market regulatory matters. ‘Outstanding’ Wacef Bentaibi leads the project and financing team, with a client list comprising state-owned enterprises, sponsors, and lenders, many of which operate in key sectors such as mining, gas and oil. ‘Dedicated’ Mounia Larhrissi focuses on structured finance across all types of assets and transactions, but also advises sponsors and borrowers involved in corporate and project financing.
Praxisleiter:
Wacef Bentaibi
Weitere Kernanwälte:
Mounia Larhissi
Referenzen
‘Quality of team members, and proactive.’
‘Gide has a strong team in Morocco, with ample experience and deep knowledge of transaction precedents in the infrastructure and energy space, which is extremely helpful for insightful decision-making.’
‘Wacef Bentaibi is a business-minded partner who is able to provide clear recommendations and pragmatic, practical, and legal solutions’.
Kernmandanten
African Development Bank
Afrigreen Debt Impact Fund SLP
Global Port Holding
Ocean Management Infrastructure
STEYA
Hitachi Zosen Inova AG
ENGIE North Africa
SUEZ International
Banque Centrale Populaire
CFG Bank
Crédit Agricole S.A
KD Holding
Societe General de Travaux du Maroc (SGTM)
NAREVA Holding
ITOCHU Corporation
CIMR
International Finance Corporation
CaixaBank
European Investment Bank
NOVACIM (previously TEKCIM)
Westmont
Highlight-Mandate
- Assisting the African Development Bank (AfDB) with the implementation of three multimillion-dollar financings granted to OCP S.A.—the world’s largest suppliers of phosphate-based fertilisers—in the context of its new Green Investment Programme aimed at supplying clean water to the towns around three new desalinisation plants.
- Assisting Banque Centrale Populaire Du Maroc with a multimillion-euro non-recourse financing—a type of commercial lending that entitles the lender to repayment only from the profits of the project the loan is funding.
- Advising the Moroccan CFG Bank on a multimillion-euro loan for the financing of two office towers in the Casablanca Finance City (CFC) area, sold under a forward sale.
UGGC Africa
UGGC Africa displays strength in banking and finance providing expert advice on bank financing, regulatory, projecting financing, securitisation, and bond issues. Ali Bougrine leads the practice and regularly advises major industrial and financial groups and investment funds. Laurent Sablé is well-versed in corporate finance activities and recently assisted Induver in financing imports of raw materials from MFG Algérie.
Praxisleiter:
Ali Bougrine; Laurent Sablé.
Kernmandanten
Centre Monétique Interbancaire (CMI)
LafargeHolcim
Systra Group
Matis Aeropsace (a joint company of Boeing and Safran)
Induver
Highlight-Mandate
ADNA
ADNA adeptly advises banks, financial institutions, and sponsors on project finance, acquisition, and bond issues. The team’s capabilities also extend to capital markets and structuring Islamic finance transactions, as well as in-depth knowledge of OHADA law. Safia Fassi-Fihri leads the department and is particularly experienced in finance and regulatory matters.
Praxisleiter:
Safia Fassi-Fihri
Weitere Kernanwälte:
Ghita Bennis
Kernmandanten
Dislog
International Finance Corporation (Crédit du Maroc)
Africa50
Highlight-Mandate
- Advised IFC in relation to the 50,000,000 USD financing in Crédit du Maroc.
- Advised Abn Amro Bank N.V, Cooperatieve Rabobak U.A, Ing Bank N.V, Abn Amro Asset Based Finance N.V, Rabo factoring B.V, Ing commercial finance B.V. as lenders in relation to a loan to Klaas Puul.
- Advised PROPARCO, as a lender, in connection with a EUR 65,000,000 secured and real estate credit facility granted to MISSION LAIQUE FRANCAISE, a French non-profit association recognised as a public utility, which heads a network of 112 French educational establishments abroad with over 60,000 students in 39 countries.
Afrique Advisors
Afrique Advisors offers a range of banking services such as regulatory and compliance, corporate finance and securities, and project finance. Laila Slassi leads the practice and lends her expertise to complex, multidisciplinary projects involving financial, corporate, and tax law. These include acquisitions and sales of assets, establishing joint ventures, and restructuring operations in the industrial and financial sectors.
Praxisleiter:
Laila Slassi
Weitere Kernanwälte:
Meryem Lahlou; Khadija Zoulali.
Highlight-Mandate
Bakouchi & Habachi - HB Law Firm LLP
Bakouchi & Habachi - HB Law Firm LLP is experienced in banking and project finance. The firm has assisted local and international groups, banks, financial institutions, and investment funds. These clients span across key industries such as energy, oil and gas, insurance, and real estate. Salima Bakouchi and Kamal Habachi lead the department with their combined expertise in stock market regulation, structured finance, and project finance.
Praxisleiter:
Salima Bakouchi; Kamal Habachi
Weitere Kernanwälte:
Saad Morchid
Referenzen
‘Very good team’.
‘Responsiveness of all staff’.
Kernmandanten
Attijariwafa Bank
Attijari Factoring
Bank of Africa
BMICE (Banque Maghrebine d’Investiememnt et Commerceexterieur )
Societe Generale Marocaine des Banques (SGMB)
International Islamic Trade Finance Corporation (Islamic Finance)
Umnia Bank (CIH Bank) (Islamic Finance)
Wafa Takaful (Wafa Assurance) (Islamic Finance)
AXA Takaful (AXA Assurance) (Islamic Finance)
Attijari Invest
Attijari Finance Corp
CDG Capital
CDG Invest private equity
CDG Invest Growth
CDG Invest Infrastructure
FINEA
ATTIJARI Factoring
Wafasalaf
WAFABAIL
Wafa Immobilier
AtlantaSanad (Insurance and Finance)
AXA Assistance (Assistance and Insurance)
AXA Assurance (Insurance and Finance)
Wafa Assurance (Insurance and Finance)
Wafa IMA (Assistance and Insurance)
Marocaine Vie (Insurance and Finance)
Abengoa Group
Atlas Nord Hydrocarbures (“Cepsa”)
TotalEnergies Marketing Maroc
Al Omrane Group
Emaar Group
Compagnie Générale Immobilière (“CGI”)
Marsa Maroc Group (National leader in operating port terminals)
Dentons Morocco
Dentons Morocco‘s banking, finance, and capital markets team is led by corporate specialist Christophe Simonnet . Simonnet regularly advises clients on financing matters in North Africa and Francophone African countries. Co-head Mehdi Megzari is experienced in banking and financing, M&A, corporate, and competition law, and has advised EBRD, Development Partners International, Banque Centrale Populaire, Société Générale among many other clients.
Praxisleiter:
Christophe Simonnet; Mehdi Megzari
Kernmandanten
Aya Gold & Silver Inc.
EBRD (European Bank for Reconstruction and Development)
Société Générale (Corporate and investment Banking)
Highlight-Mandate
- Assisted Zgounder Millenium Silver Mining, a subsidiary of the Canadian group Aya Gold & Silver Inc, in negotiating financing arrangements with the EBRD (European Bank for Reconstruction and Development).
- Assisted the EBRD in drafting and negotiating the financing agreements related to the acquisition by ECP Maroc, the wholly owned Moroccan subsidiary of Eczacibasi Consumer Products, of 100% of Jeesr Industries (the leading integrated producer of tissue-based hygiene products in Morocco).
URITI
URITI is a boutique law firm whose diverse client list ranges from start-up companies to large multinationals and financial institutions. Kenza Bounjou leads the banking and finance practice with her corporate, finance, and project expertise. Bounjou has experience across infrastructure-related sectors and niche knowledge of sustainable investments, ESG, and CSR issues.
Praxisleiter:
Kenza Bounjou