Release date: 25 September 2008
Promoter – Financial Intermediary
Alma Capital (www.almacapital.com)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 Regulation 1638/2006 of 24 October 2006). The fund will be divided into to two entities, one registered in Morocco and the other in Luxembourg. The fund will managed by AlmaMed, a management company resgistered in Morocco.
Objectives
The purpose of the fund will be to make equity and quasi-equity investments in 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.
Sector(s)
Proposed EIB finance (Approximate amount)
The amount of the Bank’s investment will not exceed the equivalent of EUR 12m or, if this amount is lower, 25% of the fund’s capital.
Total cost (Approximate amount)
The fund will have minimum capital of EUR 50m at first closing. The promoters' target amount at second closing is EUR 100 million.
Environmental aspects
Not applicable.
Procurement
Not applicable.
Status
Signed - 11/12/2008
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).