17 June 2022
Deals | Algeria | Project (Finance & Infrastructures)
Gide assisted Med Investment Holding Spa, an investment company owned by the Kerrar family, in the conclusion of a partnership agreement with the Norwegian group Jotun A/S for the production of paint and coatings in Algeria. Production will be provided by a joint venture, Technover P.
Med Investment has sold a stake in Technover P to Jotun. The joint venture Technover P will produce industrial paints and coatings in a new plant located in Tizi-Ouzou in the North of Algeria, meeting international standards and environmental norms.
Med Investment Holding Spa is an investment and industrial projects developer. Created in 2004 as a Biopharm Spa spin-off, it manages the Kerrar family's equity stakes, takes venture capital participations and develops new industrial and greenfield production projects. The managed equity stakes include, in the health sector, Biopharm Spa and Magpharm Sarl.
Biopharm Spa, founded in 1994 by Madjid Kerrar a manufacturer since the sixteens, is a leading Algerian pharmaceutical laboratory and it is listed on the Algerian Stock Exchange (Ticker:BIO) since 2016. With 2560 employees, Biopharm generated in 2021, 81 billion dinars (560 million USD).
The Gide team was composed of Samy Laghouati, partner in the Algiers office, Nabil Bengoua, associate and Narimane Tadjadit, associate in the Algiers office.