Salafin S.A. (CBSE:SLF) signed a memorandum of understanding to acquire TASLIF, Société de crédit à la consommation, S.A. (CBSE:TSF) from Saham Assurance SA (CBSE:SAH) and others on January 26, 2018. Under the transaction, the exchange ratio was set at a Salafin share for 39 Taslif shares. The transaction is subject to customary closing conditions, including obtaining required regulatory and other customary authorizations (approval of Bank Al Maghrib and visa of the Moroccan Capital Market Authority).

The proposed merger will also be submitted to the approval of Salafin's and Taslif's Extraordinary General Meetings in the second half of 2018. Zineb El Kouhen, Oussama Fedane, Younes Maleh and Hicham Naciri of Allen & Overy acted as legal advisor for Saham Assurance.