Gide advises ARIF on its acquisition of a minority stake in MASS Céréales Al Maghreb

Gide’s Casablanca office has advised the Argan Infrastructure Fund (ARIF) on its acquisition of a 20% stake in the share capital of Moroccan company MASS Céréales Al Maghreb (Mass Céréales) from its majority shareholder, Holmarcom group.

Mass Céréales, a Moroccan leader in the storage and handling of grain, pulses and oilseeds, operates two grain terminals in the ports of Casablanca and Jorf Lasfar.

ARIF is an investment fund dedicated to infrastructure in North and sub-Saharan Africa, and is managed by Infra Invest, a pioneer in the management of infrastructure funds in North Africa. ARIF investors are top tier institutions, such as the African Development Bank, the European Investment Bank, the International Finance Corporation, PROPARCO, RMA Watanya, and BIO.

The acquisition of this stake in the share capital of Mass Céréales is ARIF’s first investment in Morocco.

ARIF was advised by Gide, with a team comprising partner Julien David, and senior associate Simon Auquier.