Release date: 10 May 2007
Promoter – Financial Intermediary
Accès Capital Atlantique S.A., a subsidiary of Morocco's Caisse de Dépôt et de Gestion.Location
Description
The operation consists of the Bank's acquisition of an equity participation in a fledgling investment fund, financed from the European Union's budgetary resources (risk capital managed by the Bank under the MEDA II Regulation).
Objectives
The purpose of the fund will be to make equity and quasi-equity investments (mezzanine finance) in small and medium-sized enterprises domiciled and operating in Morocco. The fund will invest in enterprises operating in all business sectors except real estate, agriculture, raw materials, defence and other sectors traditionally excluded by the EIB.
Comments
Financial intermediation and investment funds.
Sector(s)
Proposed EIB finance (Approximate amount)
The amount of the Bank’s investment will not exceed the equivalent in Moroccan dirhams (MAD) of EUR 6m or, if this amount is lower, 25% of the fund's capital.
Total cost (Approximate amount)
The fund will have minimum capital of MAD 250m at the first closing (around EUR 22.5m). The promoters are aiming for capital of MAD 500m (EUR 45m) at the second closing.
Environmental aspects
Not applicable.
Procurement
Not applicable.
Status
Signed - 26/11/2007
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).