2023-11-17 18:31:00
(Ecofin Agency) – Having entered the capital of the payment institution Cash Plus in 2014, then exiting in 2021, Mediterrania is proposing to return there with a group of investors.
Mediterrania Capital Partners, which invests in SMEs and medium-sized companies in Africa, is proposing to acquire, jointly with a group of investors, a majority share in the capital of the Moroccan payment institution Cash Plus. The operation was announced on Thursday, November 16, by the Competition Council of Morocco.
Concerned by this acquisition project, the International Finance Corporation (IFC), the FMO and 5 other private entities. The shares requested by each of these structures have not been revealed. A company called MC IV Money has been newly formed for the purposes of investing in Cash Plus.
Mediterrania, which is cited in this acquisition project, is a former shareholder of Cash Plus. The private equity firm acquired 49% of the capital of this Moroccan payment institution in 2014 before selling its shares in the company in February 2021. This announced return of Mediterrania to the shareholding of Cash Plus had already been mentioned in early last November. Referring to the investment of 15 million euros by an investor in its latest fund, namely MC IV Fund, Mediterrania also announced the completion of the first two investments of this fund, in the pharmaceutical company Laprophan and within Cash More.
It should be noted that the Moroccan payment institution Cash Plus is currently owned by the Tazi and Amar families. This company, in operation since 2004, offers financial and para-financial services ranging from money transfer to bill payment.
Chamberlain Moko
1700308702
#investment #fund #Mediterrania #Capital #Partners #return #capital #Moroccan #Cash