(Ecofin Agency) – The final disengagement process takes place three years after the sale of part of the shares within the company Travaux Généraux de Construction de Casablanca (TGCC).
Mediterrania Capital Partners (MCP), completed on Wednesday April 24, 2024, its total disengagement of the capital of the Moroccan Travaux Généraux de Construction de Casablanca (TGCC).
The fund manager sold, for an undisclosed amount, the remainder of the 382,806 shares he still held in the specialist in construction and buildings and public works) TGCC. The identity of the purchaser of these securities has not been revealed.
This disengagement comes three years after the partial exit of MCP from the capital of TGCC. The private equity firm sold in December 2021, for the benefit of the public, approximately 220,589 shares out of the total 603,395 shares held. This partial sale, carried out on the stock market, allowed TGCC to raise 300 million dirhams ($29.6 million), and to list its shares on the Casablanca Stock Exchange.
Mediterrania invested for the first time in the capital of TGCC in January 2018. Via its MC III fund, targeting SMEs in North, West and Central Africa, the private equity firm and three other partners ( Proparco, DEG and South Suez) have committed 55 million euros to the Moroccan specialist in industrial, public and building works.
The private equity firm, via its co-founder, Hatim Ben Ahmed (photo), claims to have “ accompanied TGCC All At long of her path of growth, consolidating its position on its national market while strengthening its international expansion “.
The investor did not mention the profitability of his investment in TGCC. However, this exit does not mean the end of Mediterrania’s presence on the Moroccan market. It remains present in the Kingdom through its holdings in the financial services (Cash Plus), pharmaceutical (Laprophan) and consumer goods sectors via Dislog Industries.
Chamberline Moko
