Econostrum | Economic News in the Mediterranean



Mediterrania Capital Partners invests €55 million in Moroccan TGCC through a consortium

Mediterrania Capital Partners is based in Barcelona and Malta (logo: MCP)
Mediterrania Capital Partners is based in Barcelona and Malta (logo: MCP)
SPAIN / MOROCCO. Venture capitalist Mediterrania Capital Partners, in association with DEG, Proparco and South Suez, is taking a €55 million stake in the Casablanca-based company Travaux Généraux de Construction (TGCC).

Founded in 1991 by Mohammed Bouzoubaa, the Moroccan construction and public works company is also present in sub-Saharan Africa where it has two subsidiaries (Gabon and Ivory Coast). It employs 8,250 people. In May 2017, TGCC won, together with China Railway Construction Corp (CRCC), the construction of the highest tower in Africa in Rabat.

The consortium led by Mediterrania Capital Partners intends through this investment "to support the company's expansion plans based on growth trends in the construction sector in Morocco and sub-Saharan Africa which are expected to continue due to strong demand for residential and non-residential buildings coupled with increased government investment in infrastructure and energy," a statement said.
The investment in TGCC was made with its third fund, MC III.

Headquartered in Barcelona and Malta and specialising in private equity dedicated to growth transactions in African companies, Mediterrania Capital Partners also has offices in Abidjan, Algiers, Cairo and Casablanca.

Frédéric Dubessy

Friday, January 19th 2018

Article read 42 times

Articles which should interest to you
< >