Global law firm Norton Rose Fulbright has advised the shareholders of Comptoir Agricole de Souss (CAS), one of the leading agricultural suppliers in Morocco, on its combination with Compagnie Marocaine de Goutte in Goutte et de Pompage (CMGP).
Both companies have experienced substantial growth over the past 20 years. Their combined turnover is approximately 1.6 billion Moroccan dirhams (EUR146 million).
As part of this transaction, the AfricInvest fund will join the pan-African private equity firm Development Partners International (DPI) as an investor in CMGP, a Morocco-based African supplier of irrigation solutions and hydraulic infrastructures.
The transaction is scheduled to be completed in the first quarter of 2021, pending the approval of the Moroccan Competition Council.
Corporate M&A partner Alain Malek led the Paris and Casablanca-based team, which included counsel Anne-Laure Bernard-Bouissières, associate Fatima Arrazki and counsel Mathieu Dahan, who advised on real estate matters.