Morocco > Corporate and M&A
Corporate and M&A
At Gide Loyrette Nouel – Naciri & Associés, the ‘ wonderful lawyer’ Hicham Naciri heads a group of partners which clients describe as ‘ the best M&A team available in Morocco and maybe in the region’. They advised OCP on the funding of the outsourcing of its pension fund, valued at close to €3bn.
UGGC & Associés has a market-leading reputation for M&A as ‘ a serious firm with good lawyers handling a whole range of corporate work’, and is particularly active in relation to private equity. Patrick Larrivé advised London-based private equity house Experian on a joint venture with Moroccan banks to create a credit bureau in Casablanca.
Kettani Law Firm’s name partner Azzedine Kettani is ‘ known for his longstanding presence and for acting for US companies’. Nadia Kettani heads the corporate department, which has recently grown by two lawyers, and has been advising on the restructuring of major Moroccan public company Sochepress, and on the acquisition by Café Dubois of the capital of Leaderfood.
At Hajji & Associés, partner Myriam Bennani enjoys a very good reputation for her team’s substantial activity in M&A and for being ‘ reliable and responsive’. The firm acted for Bayer in relation to the restructuring of its Moroccan subsidiaries, and has a strong pharmaceutical client base which includes GlaxoSmithKline and Servier.
Mernissi – FIGES’s practice has been strengthened by the arrival from Paris of commercial law specialist Saad Mernissi, and by new client wins including OCP. The firm is active in advising European, particularly French, companies, and has been gaining a number of new cement industry clients, including Switzerland-based Holcim and Portugal-based Cimpor. Name partner Mohamed El Mernissi is a member of the Moroccan competition commission.
August & Debouzy’s clients say the firm’s Casablanca office demonstrates ‘ pragmatism and time-efficiency’, and that partner Kamal Nasrollah and senior associate Julien Aucomte are ‘ extremely likeable, intelligent and diverse characters, and above typical standard’. Maroc Telecom is a major client, and international clients include Capgemini.
Bennani & Associés LLP’s name partner Mehdi Bennani is a New York-qualified lawyer with a financing background who is ‘ impressive and very serious in doing what he does’. The team is instructed by international law firms and clients, and also has a strong Moroccan institutional client base which includes the CDG, the ONA Group and the Banque Marocaine Du Commerce Extérieur. Recent work includes acting for Morocco’s ministry of commerce and industry in negotiations with US-based Tessera relating to the establishment of a research and development centre.
CMS Bureau Francis Lefebvre is known for its strong tax practice in the corporate arena. The team recently advised on tax structuring and planning and property co-ownerships agreements relating to a joint venture between the Accor Group, Orco and Thomas & Piron for a major tourism project near Essaouira.
Garrigues Maroc Sarl has a growing office in Casablanca, where the office head is José Ignacio García Muniozguren, and a new office in Tangiers. The team, which is best known for acting for Spanish clients, has recently been advising in the logistics industry.
SFM is the oldest law firm in Morocco. Jacques Humblé, who has particular experience in real estate, and Moulay Abdallah, who has a strong administrative law practice, are the main corporate partners.
The Moroccan office of Algeria-based Law Office of Dr Ben Abderrahmane & Partners is active in corporate and tax work for medium-sized companies, and receives instructions from international law firms.
Ernst & Young – Associated Advisers’s Casablanca office, which has recently grown from three to six lawyers, is well known for advising the Moroccan ministry of tourism on large scale projects.
Press releases
Legal Developments worldwide
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Harmonising Anti-Circumvention Protection with Copyright Law
Technological measures are increasingly used by rightholders in order to protect their intellectual property rights in digital content. The effect of such measures is to restrict the access to and the use of digital content, by associating pre-defined and self-executing usage rules with it. Within an increasing number of legislations, technological measures enjoy legal protection against circumvention. However, these new rules have been subject to rather severe criticism, especially from a copyright law point of view, the general claim being that anti-circumvention protection threatens to ruin the delicate balance of interests cast in the provisions of copyright law. -
How to stop fraud before it happens
Stopping fraud before it happens is the ultimate goal of a successful fraud prevention and awareness programme. Whilst it is important that fraud prevention controls are robust and are methodically implemented, too often companies fail to recognize that it is the perception of the likelihood of detection and sanction which discourages a person from perpetrating fraud, rather than the actual effectiveness of the internal controls and anti-fraud measures. -
Consumer Protection Act and leases
The Consumer Protection Act 2008 (“ the Act ”) was assented to on 24 April 2009 and is to come into operation incrementally with the majority of the provisions coming into effect 18 months after the date on which the Act was signed by the President. Accordingly the majority of the provisions of the Act will come into operation on 24 October 2010. -
The impact of competition law changes/developments on M&A activity
The Impact of Competition Law changes/developments (including the practices and policies of the Commission/Tribunal) on M&A activity - with a specific focus on 2008 and also forward looking taking into account expected legislative changes. If possible mention actual company names/cases wherever possible to make it have real life application -
Contributed tax capital: simplicity at last!
By now, many will have heard something about c ontributed tax capital (CTC). A year or so hence, the concept will form part of the South African tax terrain – to the relief of tax practitioners who have had to trawl through the Income Tax Act’s (“the Act”) three-to-four page long definition of a dividend . I certainly heaved a sigh of relief when I read the Revenue Laws Amendment Bill of 2008 (“Bill”). -
The Consumer Protection Bill – Changing the Face of Litigation and Dispute Resolution
The Consumer Protection Bill is the Department of Trade and Industry’s omnibus consumer protection legislation which has been passed by Parliament and is currently awaiting the President’s signature. -
Deliberate manipulation of securities prices will invariably and inevitably be harshly penalised
Deliberate manipulation of securities prices will be harshly penalised. That’s the clear message to emerge from the 17 February 2009 Financial Services Appeal Board case of Michael Berman vs the Financial Services Board . -
Unconstitutionality of the Competition Amendment Bill By Andrew Smith and Emmylou Wewege
It is hoped that the President will refer the Competition Amendment Bill to the Constitutional Court rather than sign it into to law so as to resolve its unconstitutionality and avoid unnecessary litigation. Failure to do so will spark constitutional challenges which will prevent it from being implemented while that litigation unfolds. -
New Laws in the Pipe Line to Decisively Respond to the Challenge of Climate Change
New laws may be in the pipeline in South Africa to address climate change after the South African Finance Minister’s (“the Minister”) Budget speech o n 11 February 2009. In the 2009 Budget speech, the Minister announced specific additional measures which South Africa will implement in responding to climate change. -
Big business beware – the class and derivative actions are coming! by Carl Stein
The trend over the past decade in the USA , and more recently in the UK after the enactment of its new Companies Act in 2006, towards more aggressive shareholder activism seems likely to be followed in South Africa once our new Companies Act becomes operative. This new Act is only awaiting the State President’s signature in order to become law, although it will only come into operation at least one year after the State President does so.
Press releases
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Agrofert Successful in Law Suit against PKN Orlen
PRAGUE (30 June 2009) – The Arbitration court in Prague has decided in favour of company Agrofert Holding (“Agrofert”) in its claim against Polish company Polski Koncern Naftowy Orlen (“PKN Orlen”). The Polish company has to pay, on the basis of decision of the arbiters, a contractual penalty which exceeds EUR 77.2 million (over 2 billion CZK) with accessories. -
UBS CHF 3.8bn share placement
On June 25, 2009, UBS AG (SIX: UBSN) announced that it is offering 293,258,050 newly issued shares from authorized capital to a small number of institutional investors at a price of CHF 13.00 per share. After deducting cast associated with the placement, the amount of new equity capital expected to be raised is approximately CHF 3.8 billion. -
DWS reprises advisory role for MENA Infrastructure fund's investment in Oman's power sector
Denton Wilde Sapte continues to act as legal advisor for MENA Infrastructure Fund, picking up an instruction to advise on its second investment, in which it has taken 32.8% of the shareholding in Oman's United Power Company SAOG (UPC). -
Three partner admissions at Carey Olsen in Jersey
Carey Olsen is strengthening its corporate, finance and fiduciary teams in Jersey by admitting three partners to these key practice areas. -
Penningtons celebrates SRA and Farriers Registration Council tender wins
Penningtons Solicitors LLP's professional regulation group is celebrating two key appointments with the news that it has been successful in tenders to advise both the Solicitors Regulation Authority (SRA) and The Farriers Registration Council. -
Penningtons advises on Trans-Siberian Express luxury travel deal
Penningtons Solicitors LLP has advised international tour operator Australian Pacific Touring (UK) Limited on its purchase of a majority share in GW Travel Limited, the market-leader in long-distance luxury rail tours. GW Travel's flagship holidays are trips on the world-famous Trans-Siberian Express. -
Penningtons trainee encourages young Londoners to choose a career in law
Catherine McCann, a trainee solicitor at Penningtons Solicitors LLP's City office, has been invited to contribute to a new guide published by the London Chamber of Commerce & Industry to help young people consider the many types of jobs available in the capital. -
BAKER & MCKENZIE ADVISES FIBERWEB ON JOINT VENTURE WITH PETROPAR
London/Chicago/Sao Paolo, 26 June 2009 - Baker & McKenzie has advised Fiberweb plc on its proposed joint venture with Petropar S.A. The 50/50 joint venture, which will be named FitesaFiberweb, is intended to create the second largest producer of spunbond and non woven fabrics in North and South America. Completion of the transaction is subject to the approval of both Fiberweb and Petropar shareholders. -
Salans awarded Best European Law Firm
Salans has been awarded a Special Distinction in the Best European Law Firm award category at the 2009 International Legal Alliance Summit & Awards (“ILASA”). -
unit specialising in transaction and financing consultancy
HERMANN Rechtsanwälte Wirtschaftsprüfer Steuerberater and the Munich-based team at Grub Brugger join forces: Joint establishment of a unit specialising in transaction and financing consultancy