Rising Stars

Firms To Watch: Commercial, corporate and M&A

URITI, an independent law boutique, offers comprehensive advisory services, including M&A, private equity, and corporate restructuring. Despite being founded in 2022, the firm has an impressive client list of multinational corporations.

Firms in the Spotlight Commercial, corporate and M&A

M.A. Global Consulting

M.A. Global Consulting logo

MA Global Consulting is a Casablanca-based legal and tax one-stop-shop with great expertise in all Corporate Law and Mergers and Acquisitions matters. The firm provides outstanding services and advises major national and international operators on their Business Law related problematics.

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Commercial, corporate and M&A in Morocco

A&O Shearman

Backed by the robust international framework of the firm's global offering, A&O Shearman navigates high-profile strategic transactions spanning Morocco, North Africa, and southern Africa. Co-leading the practice is Hicham Naciri, a seasoned expert in advising on large-scale projects in Morocco and Africa, with a recent example here being a joint venture between Sanlam Group with Allianz. Co-leading the practice is Yassir Ghorbal, a cross-disciplinary specialist in M&A, capital markets, and real estate transactions. Ghorbal recently advised Bank of Africa and Agence Spéciale Tanger Méditerranée on their partnership with two Chinese construction and infrastructure companies.

Practice head(s):

Hicham Naciri; Yassir Ghorbal

Key clients

Veolia Environnement

Sanlam Group

Managem SA

Le Fonds Mohammed VI pour l’Investissement


Kelix Bio

Bank of Africa



Banque Marocaine pour le Commerce et l’Industrie

BNP Paribas

Work highlights

Baker & McKenzie Maroc

Baker & McKenzie Maroc’s corporate and M&A team has an impressively strong client list of international corporations, including multiple global blue-chip tech corporations. The team’s forte lies in representing international companies embarking on dispositions, joint ventures, and intricate commercial arrangements, especially within high-growth emerging markets. Guiding the team is Kamal Nasrollah, a seasoned expert in cross-border M&A. Notably, Nasrollah has recently led the firm in completing several complex and high-value transactions, including the acquisition of the MBCC Group by Sika AG. Additionally, Keltoum Boudribila takes point on the antitrust aspects of matters.

Practice head(s):

Kamal Nasrollah

Other key lawyers:

Keltoum Boudribila


‘A top-tier, international-level legal advice team. As a Moroccan company engaged in transactions with major multinational corporations, we were reassured to be able to rely on such high-quality support’

‘Highly available and flexible individuals, providing personalised advice. Beyond theoretical knowledge and legal competence, they have a very good understanding of the specificities of the business world in Morocco, and demonstrate a high capacity for adaptation.’

‘Keltoum Boudribila has been exceptionally helpful, thorough and clear with her advice & support.’

Key clients






Olayan Group


Inspired Education



Work highlights

  • Advised the Swiss construction chemicals group Sika AG on the acquisition of MBCC Group (Master Builders Construction Chemicals), the former BASF Construction Chemicals division, from Lone Star Funds, a global private equity firm, for a consideration of CHF 5.5 billion (EUR 5.2 billion).
  • Advising Atos, a French IT group, to assist them with its spin-off in two different entities, in the 78 countries where the group has a corporate presence.
  • Advising Inspired Education Inc. in connection with the acquisition of a majority stake in a private school.

Clifford Chance

Clifford Chance Casablanca’s office offers extensive experience spanning the entire spectrum of M&A work, excelling in private equity and capital markets deals, as well as both inbound and outbound transactions. At the head of the practice is Mustapha Mourahib, an expert in managing large-scale M&A, PPP, and project finance transactions. Ouns Lemseffer brings specialisation in project financing, financial regulation, and financial market operations. Frédéric Giancarli deftly handles cross-border acquisitions, joint ventures, and private equity; the three jointly head the practice. Additionally, senior associate Hasnaa Bennani provides support on the firm’s most significant matters, including advising OCP African on its partnership with the Nigeria Sovereign Investment Authority.

Practice head(s):

Mustapha Mourahib; Ouns Lemseffer; Frédéric Giancarli

Other key lawyers:

Hasnaa Bennani

Key clients

OCP Africa

UM6P (Université Mohammed VI Polytechnique)

Vantage Mezzanine IV Pan Africa (Pty) Ltd


ASK Capital

Work highlights

  • Advised OCP Africa on its partnership with the Nigeria Sovereign Investment Authority (NSIA) for the development of an industrial platform for the production of fertilizers in Nigeria.
  • Advised Africa50 – Project Finance in relation to its minority investment (cash-in/cash-out) in Holged, a Moroccan company active in the education sector in Morocco and Tunisia.
  • Advised Vantage Mezzanine IV Pan African Sub Fund Partnership in a minority investment in Promamec, a Moroccan company active in the production and the distribution of medical equipment and consumables.

Norton Rose Fulbright

Norton Rose Fulbright‘s Casablanca office has particular strength within the infrastructure, transport, telecoms, and construction sectors. Notably, the firm also has a strong antitrust and compliance practice. Co-leading the team is Alain Malek, based in Casablanca, whose expertise is reflected in his high-profile clients. Malek is currently advising the Ministry of Commerce, Industry, and Digital Economy in an investment agreement with several Chinese construction corporations. Working alongside Malek is practice co-head Roberto Cristofolini, who focuses on corporate law and finance.

Practice head(s):

Alain Malek; Roberto Cristofolini


‘The team has a very pragmatic, business-oriented approach. They have a very good knowledge of local practice and the expectations of the local competition authority. ’

‘The team delivered results on time, and they were very thorough in the details ’

‘Easy to access, very responsive.’

Key clients

Ministry of Commerce, Industry and Digital Economy

Group Cimat

Brookfield Corporation

Wafa Assurance

KPMG France

KPMG International


BNP Paribas (BNPP)

Credit Agricole Consumer Finance (CACF)


Cameco Corporation

Work highlights

  • Advising Brookfield and Cameco Corporation in the filing of their joint acquisition of Westinghouse Electric Company with the Moroccan competition council; this transaction is international in scope and relates to the nuclear energy sector.
  • Advised Wafa Assurance in the context of the sale by Crédit Agricole SA of its 10% stake in Crédit du Maroc to Holmarcom.
  • Provided legal assistance in the first cartel investigation launched by the Morocco Competition Council.


The corporate and M&A team at ADNA stands as a reliable partner, offering unwavering support to clients throughout every phase of a company’s life cycle. Leading the team is Safia Fassi-Fihri, a specialist in joint ventures and capital market transactions who recently advised the International Finance Corporation on a high-value financing in Crédit du Maroc. Other notable names include senior associate Dina Benjelloun, who supports Fassi-Fihri on several M&A matters for listed companies and investment funds.

Practice head(s):

Safia Fassi-Fihri

Other key lawyers:

Dina Benjelloun


‘Safia Fassi-Fihri is a highly competent lawyer, with deep knowledge in her area of expertise and a strong team to support her to complement her offering for businesses in the market.’

‘Safia is a lawyer that juggles well the balance between business needs and the legal framework to ensure her clients are well mitigated from risks.’

‘The partners are reachable and add value to the discussions. They also commit themselves personally to move forward in the files they deal with.’

‘Very broad knowledge of the market.’

‘The team is above all available and very very responsive. The strengths of ADNA collaborators are understanding the business in question, identifying the problem raised, calculating the risks and proposing legally practical options.’

‘The team is full of talents and above all has an exceptional ability to listen.’

Key clients

International Finance Corporation (IFC)



Butec Group



Africa 50


Sabis Group

Cofina Group

China Communications Construction Company (CCCC)

Work highlights

  • Advising Sanlam in relation to the merger of its insurance activities in Africa with those of Allianz; ADNA Morocco team has worked on the deal in twelve francophone jurisdiction (not only Morocco).
  • Advising Butec Group on the acquisition of Engie Services Maroc and Cofely Tangier, the largest transaction of the seventeen acquisitions of ENGIE Group in Africa operating in the fields of energy efficiency, maintenance, heating, ventilation and air conditioning, green mobility, multi-technical maintenance as well as facility management.
  • Advising International Finance Corporation on the subscription of a minority equity stake in Holmarcom Insurance Activities, the holding company of Atlanta Sanad, a leading listed insurance company in Morocco.


ASAFO & CO. MOROCCO Sarl has a strong and growing corporate and commercial offering with a particular emphasis on M&A and private equity matters. The practice has a strong focus on advising clients operating in OHADA countries, regularly advising on cross-border transactions and investments. Patrick Larrivé leads the practice. Larrivé, a banking and finance specialist, regularly acts for private equity funds. Mouna Boubia is another key player, renowned for her work in M&A transactions, private equity, and joint ventures. She regularly advises clients in the food, automotive, and manufacturing industries.

Practice head(s):

Patrick Larrivé; Mouna Boubia

Key clients

Coris Group



Advanced Finance and Investment Group (“AFIG Funds”)


Diana Holding S.A.

Outsourcia Group

Valoris Capital

Disty Technologies

BMCE Capital Investments

Adiwale Partners

Mediterrania Capital Partners

54 Capital

Sango Capital

Red Med Finance

Parlym International

Work highlights

  • Advised pan-African banking group Coris in the context of the acquisition of the Société Générale’s subsidiaries in Mauritania and Chad.
  • Advised COFINA, an African-based group specialising in inclusive finance and transactional finance services, on its acquisition of JA Delmas, a Caterpillar distributor in West Africa.
  • Advised Advanced Finance and Investment Group, in its acquisition of Nouvelle Mici-Embaci from Holea Holding, the parent company of Ivorian agro-industrial conglomerate, Groupe Carré d’Or.

Bennani & Associés

With a strong foothold in sectors such as automotive and tech, Bennani & Associés excels in representing major multinational clients, including Samsung C&T, Huawei, and Fiat, in North and West Africa. Guiding this powerhouse is managing partner Mehdi Bennani, a trusted advisor to major companies engaged in local and cross-border corporate and commercial transactions. In a recent highlight, Bennani advised Allianz SE in a joint venture with Sanlam Group.

Practice head(s):

Mehdi Bennani


‘The team at Bennani are experts in their field of the local Moroccan laws and procedures. Queries from our firm are always addressed in a very timely and professional manner. They have assisted us greatly in how to move forward in many situations, be it day-to-day business or corporate restructuring, and supported us throughout the procedures.’

‘Working with the individuals at Bennani and Associates has proven to be very pleasant and professional. I highly recommend Bennani’s team.’

Key clients

AMMC (The Moroccan Capital Market Authority)


Allianz SE


Bel SA (Groupe Bel)

Bunzl plc

Crown Holdings, Inc.


Equatorial Coca-Cola Bottling Company




Samsung C&T

Siemens AG

Western Union

Azelis Group NV



Globis Acquisition Corp.

Hartwood SA

Inspired Education Holding

Koch Ag & Energy Solutions

Ontime Corporate Union S.L

Plastic Omnium

TUI Group (TUI AG)

Work highlights

  • Advising global insurance company, Allianz SE, on a €2 billion joint venture with Sanlam Group, which created a large Pan-African insurer with operational assets across 29 African markets outside South Africa.
  • Acting for France-based Plastic Omnium on the €600 million acquisition of India-based Varroc Lighting System, including its Moroccan subsidiary.
  • Acting as Moroccan counsel to Equatorial Coca-Cola Bottling Company on its €169.5 million acquisition of 100% of the shares and voting rights in Atlas Bottling Company SA and an indirect equity participation in Seven UP Bottling Company of Morocco from Diana Holding SA.

DLA Piper

DLA Piper's Casablanca office, fortified by the firm’s robust international presence, possesses significant expertise across diverse corporate and M&A matters. The team continues to thrive in sectors including agribusiness, education, and manufacturing. At the helm is Christophe Bachelet, a specialist in cross-border M&A and corporate structuring; he has recently advised on acquisitions in the agricultural, pharmaceutical, manufacturing, and distribution industries. Another pivotal figure is Camilia Benani. Benani is well experienced in the sale and issuance of shares for investment funds and industrial goods clients.

Practice head(s):

Christophe Bachelet; Camilia Benani


‘The team has an extensive knowledge of the latest transactions on different M&A markets which gives a wide benchmark on some practical situations.’

‘All team members including partners are very reactive and available.’

Key clients

Amethis Mena Fund II SICAV – RAIF S.C.A

CDG Invest Growth

Nama Holding

Amethis Fund II S.C.A, SICAR

Securitas Middle East and Africa Holding AB

Planet Sport




ISGA Casablanca

Marom Energy


Development Partners International

Sailpatri LTD (Mauritius)

Neoptim Consulting

Work highlights

  • Advised Amethis Fund S.C.A, SICAR in the context of the acquisition of shares of the Company Best Health S.A, a Moroccan distributor of medical devices, to its sister company.
  • Advising on the acquisition by Azelis, a global innovation service provider in the chemicals and food ingredients industry, of 100% of the share capital of the Chemical Partners group.
  • Advised DPI in the acquisition of 100% of the share capital and voting rights of Solevo Group, an African distribution platform for chemical products in Africa from Helios.

Gide Loyrette Nouel

The M&A and corporate team at GIDE LOYRETTE NOUEL is a trusted partner for major Moroccan and multinational clients embarking on high-stakes M&A transactions within Morocco and the broader southern African region. At the head of the practice is Simon Auquier, who has recently been advising on a variety of cases, including a cross-border joint venture in the agriculture industry and contractual documentation and negotiations in the fabric industry. Adding depth to the team is co-head Chloé Joachim De Larivière. Promoted to partner in July 2023, Larivière is a specialist in M&A, private equity, and corporate law in North Africa; she works alongside Auquier on many of the firm’s cases.

Practice head(s):

Simon Auquier; Chloé Joachim De Larivière

Key clients



nama HoldinG

AXA Partners


Crédit Agricole Leasing & Factory


Work highlights

  • Advised Chilean group Agroberries on the setting up of a joint venture with Moroccan group Zalar: this JV will produce berries in Morocco.
  • Advising Nama Holding (CDG Group) on a minority investment in two Moroccan companies who produce denim and fabric.
  • Advised Groupe Castel (Société des Boisons du Maroc) in connection with the sale of its bottled water activities in Morocco to Groupe Mutandis.

UGGC Africa

UGGC Africa, working closely with the firm’s Paris office, operates actively across Morocco as well as across the continent. The team showcases exceptional proficiency in advising firms on transactions and general corporate matters. Ali Bougrine leads the practice. Bougrine is a specialist in corporate law, M&A, and private equity, who recently assisted clients in the sustainable finance and aerospace industries with everyday corporate affairs. Laurent Sablé earns recognition for his expertise in transnational work across Africa concerning the reorganisation and sale of subsidiaries.

Practice head(s):

Ali Bougrine

Other key lawyers:

Laurent Sablé


‘UGGC Africa is on top of aviation-related matters. They master the regulatory complexities and are always proactive. Smooth communication and a truly modern approach in their dealings.’

‘Excellent leadership from Ali Bougrine. He always takes a proactive approach and is easily accessible when needed.

‘Sound knowledge of local regulations whilst also advising with international expertise, the team is also more than capable of meeting short deadlines.’

‘Ali Bougrine is always available, comprehends the big picture of each case, and provides useful insights.’

Key clients



Matis Aerospace

Orange Group and Orange OMEAM (Middle East & Africa Management)

Systra Group

Innothera Group

Work highlights

Bakouchi & Habachi - HB Law Firm LLP

The team at Bakouchi & Habachi - HB Law Firm LLP has notable strength in assisting European clients in acquiring shares in Morocco. Practice co-lead Salima Bakouchi, proficient in Arabic, French, and English, assists investors in various commercial transactions and litigations in the energy, insurance, and finance industries. Fellow co-lead Kamal Habachi is experienced in advising companies in the EU on relocating their operations to Morocco.

Practice head(s):

Salima Bakouchi; Kamal Habachi

Work highlights

Boulalf Mekkaoui Law Firm

The corporate and M&A practice at Boulalf Mekkaoui Law Firm specialises in advising international corporate clients in handling their day-to-day activities in Morocco and international operations. Abdelatif Boulalf, a seasoned practitioner, consistently engages in cross-border transactions and has significant experience in Moroccan and international arbitration and business law litigation. Additionally, Ahlam Mekkaoui has strong integrated business law experience and specialises in cross-border transactions for international clients seeking to invest in businesses in Morocco.

Practice head(s):

Abdelatif Boulalf; Ahlam Mekkaoui


‘Excellent professionals. Very knowledgeable. Proactive and close to our business.’

Work highlights

CMS Francis Lefebvre Maroc Conseil Juridique et Fiscal

CMS Francis Lefebvre Maroc Conseil Juridique et Fiscal Casablanca offers a comprehensive array of services that span Morocco and the continent. Leading the corporate law department is Rachida Charifi, a trusted advisor who is an expert in advising on M&A restructurings of Moroccan subsidiaries. Charifi is supported by Johan Bruneau who joined the practice in April 2023.

Practice head(s):

Rachida Charifi; Johan Bruneau

Key clients


AOS Holding












Work highlights

  • Advised HORTIFRUT Group on the restructuring of Moroccan subsidiaries and the reclassification of financial assets and securities as part of the group’s overall restructuring project.
  • Advised AOS Holding on the restructuring of a Moroccan subsidiary within a sale and purchase of shares.
  • Advised IBM on the restructuring of the Moroccan subsidiaries within sale and purchase of shares.

EAR & Co

EAR & Co has established a stellar reputation for assisting multinational companies, investment funds, and startups in their Moroccan operations. Mohieddine El Amari often advises Moroccan clients on acquisitions of domestic companies, as well as general corporate and commercial law. Mariam Rouissi co-leads the team and specialises in providing advice on PPPs and concession agreements as well as corporate governance structures and rules.

Practice head(s):

Mariam Rouissi; Mohieddine El Amari


‘They are professional, they master their topics, they are reactive and very comprehensive.’

Key clients

IDOU Holding

Goldwind International Holdings

Youssef Ahizoune

Rhades S.A. (Plastitex)

Al Khales Group

UTAC Morocco et ATC Maroc

Avant Scene

Arma Holding

Work highlights


Working in cooperation with the firm's Paris office, FIDAL MOROCCO AFRICA is regularly engaged in private equity, commercial, and M&A services for both public and private corporations. The team is led by Julie Claude and Hatim Boukhris. Claude provides clients with general assistance for mergers and restructurings, while Boukhris currently supports companies in their issuance of bonds, assisting in acquisitions, as well as offering general assistance in commercial and corporate matters.

Practice head(s):

Julie Claude; Hatim Boukhris

Key clients

Azur Innovation Management

Azur Innovation Fund

Freshcut Morocco

CEOS Technology

Renault Retail Group

Renault Commerce Maroc

Valoris Capital

Sanlam Pan Africa

DXC Technology

Decathlon Maroc

Maghreb Steel

Cheil Maroc

Work highlights

  • Provided legal assistance in connection with the acquisition of a stake in Blink Pharma, Presta Freedom and Data Pathology.
  • Reviewed and assisted in negotiating the contractual documents relating to CDG Invest’s acquisition of a stake in Fonds Innov, in particular the termsheet, investment agreement and shareholders’ agreement.

Garrigues Maroc Sarl

Garrigues Maroc Sarl is particularly adept in handling private equity, company law, reorganisations, and commercial contracts matters. Practice head José Ignacio García is an expert in advising clients on cross-border matters concerning Spain, ranging from strategic investments and joint ventures to acquisitions. García is supported by counsel Jaafar Laidi on many of the firm’s most significant matters.

Practice head(s):

José Ignacio García

Other key lawyers:

Jaafar Laidi


‘José Ignacio García Muniozguren stands out for his extensive knowledge of Moroccan and Spanish mercantile regulations.’

‘José Ignacio García understands the commercial perspective and gives advice that is technically correct but also practical.’

‘Local speciality but with an international presence.’

Key clients

Barceló Hotels & Resorts


Banco Santander


ByteDance (TikTok)


Label Investments

The Summer Berry Company

Hamzi Law Firm

Hamzi Law Firm‘s business law practice offers services across a wide range of business areas, including commercial law, corporate law, and M&A. The firm has a strong focus on assisting investors and managers of multinationals with their deployment projects in Morocco, the Maghreb countries, West Africa, and the Middle East. The practice is led by Zineb Idrissia Hamzi, who is greatly experienced in assisting local and multinational companies with their plans to set up or expand in Morocco.

Practice head(s):

Zineb Idrissia Hamzi

Key clients



Sagemcom Group

European Investment Bank

China State Construction Engineering Corporation

Itissalat Al Maghrib (Maroc Telecom)

Oh My Bun Group

Dermofarm Group

Scania Group

Dachser Logistics Group

Work highlights