French firms buys 44.2% of ONAs consumption loan company

French group "Compagnie Generale" bought on Friday 44.2% of the capital of Eqdom, a consumption loan company owned by Morocco's largest consortium "ONA."

A draft agreement was signed in Casablanca, pending the final approval of Moroccan authorities.

Two thirds of the sold capital will go to Societe Generale for 40 million Euro, while the remaining will be bought by its affiliate "SGMB" bank for 20 million Euro.

Eqdom is the leading household lending company in Morocco. It holds 23% of Morocco's markets and is listed on the Casablanca stock market.