AXA Assurance Maroc and Fidis announce that they had entered into exclusive negotiations: AXA Assurance Maroc is planning to sell 80% of its shares in AXA Crédit, its consumer finance subsidiary, to Fidis S.p.A., a wholly-owned subsidiary of Stellantis. As part of the proposed transaction, AXA Assurance Maroc and Fidis S.p.A. are also intending to enter into an insurance distribution partnership. The intention to sell control of its consumer finance subsidiary, is in line with AXA Group’s strategy to focus on its insurance activities, while partnering with specialists for non-insurance activities. Meryem Chami, CEO of AXA Assurance Maroc: "The planned sale of 80% of AXA Assurance Maroc's shares in AXA Crédit is a testament to shows the success of the AXA Crédit team, which has built a unique positioning in the civil servant credit market over the years. With this project, we are honored to partner with Stellantis, one of the most active industrial investors in the Moroccan economy. For AXA Assurance Maroc, which will remain a 20% shareholder in AXA Crédit, the partnership also offers great prospects opportunities for collaboration with Stellantis on the African market." Andrea Faina, Head of Stellantis FSOA Financial Services & CEO of Fidis S.p.A.: « The acquisition of the majority of AXA Crédit will allow Stellantis to create its in the fast growing Moroccan market. The partnership with AXA will create a one-stop-shop for car purchase, financial services and insurances, increasing the loyalty of our customers and supporting our ambitious commercial targets in the country. » The finalization of the transaction is subject to the usual closing conditions, including obtaining the approval of Bank Al Maghrib and the Competition Council.