31 January 2008 - Gide Loyrette Nouel Paris advises the State over the transfer of 51% of the capital of Dagris:

Gide Loyrette Nouel advised the State over the transfer by private contract of 51% of the capital of Dagris, of which it holds 64.7%. Dagris SA ( Development of agro-industries in the south) offers an integrated body of services such as agricultural, industrial and financial engineering for different manufacturers in the cotton and oil production sectors. In addition, it holds both minority and majority interests in companies producing both cotton and oil, cotton marketing and logistical services based mainly in Africa.

This transfer was organised by a schedule of conditions, which was publicised and placed at the disposal of all interested candidates in November 2007. At the end of the process, and having studied all of the offers tendered by the candidates, the Government retained the lowest tendered offer that was jointly presented by Advens and CMA CGM through the company of Géocoton Holdings. Advens, which will hold 51% of Géocoton Holdings, is present through industrial, transport and logistics industries in Mali and Senegal. CMA CGM which will hold 49% of Géocoton Holdings, is the third largest container shipping group in the world. The balance of the State's participation will be transferred to the French development agency, which will be charged with promoting the association of collective African interests, stemming from Dagris's area of involvement., in order to facilitate the success of the entry of those with capital in the company.

Géocoton Holdings, retained on the agreement of the Commission of participation and transfers, will in the next few weeks be subject to a consultation of the authorities representing the Dagris personnel, and will be subject also to the other necessary authorisations.

Legal counsel to the State:
Gide Loyrette Nouel A.A.R.P.I. (Jean-Emmanuel Skovron and Christine Miles)