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Mauritius Commercial Bank (MCB) Capital Markets and Societe Generale Côte d’Ivoire acted as Co-Lead Arrangers on the EUR 135 million debt financing for the acquisition of JA Delmas, Caterpillar dealer in West Africa

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  MCB Capital Markets MCBCM a subsidiary of MCB Group https www MCB mu and Societe Generale C te d Ivoire SGCI through its Structured Finance Group for Sub Saharan Africa SFG AFS are pleased to announce that they acted as Co Lead Arrangers in raising approximately EUR 135 million to finance the acquisition of JA Delmas JAD the exclusive dealer for Caterpillar in francophone West Africa The Delmas family has held the representation for this iconic brand the world s leading manufacturer of yellow metal machinery for nearly a century This successful debt raise attests to the depth of MCB Group s capabilities including acting as Co Lead Arranger Security Agent Facility Agent Accounts Bank and largest Lender on the transaction It also reflects the robustness of the Mauritian International Financial Centre as a platform to structure and fund significant deals in Africa The transaction also bears testimony to the expertise of Societe Generale Group in West Africa and echoes its strengths in delivering strategic financing solutions for regional champions with SGCI acting as Co Lead Arranger and second largest Lender The acquirer is a newly incorporated Mauritius domiciled investment vehicle jointly owned by Jean Luc Konan founder of Groupe COFINA financial institution in West amp Central Africa and Mohamed Al Bahar MAB the Caterpillar dealership in five countries in the Arabian Gulf JAD operates in 11 countries with a turnover of approximately EUR 700 million and has over 2 000 employees Following this transaction the business will embark on an accelerated growth path led by its current Chief Executive and other senior managers who will remain with the business Through Groupe COFINA Jean Luc Konan the new Dealer Principal and Chairman will extend the group s reach in francophone West Africa while MAB will play a key role as technical partner Jean Luc Konan founder and Chief Executive of Groupe COFINA commented We made the right choice in appointing MCBCM and SGCI as Co Lead Arrangers Their teams worked through and led this transaction to completion with tenacity expertise and professionalism Rony Lam Chief Executive of MCB Capital Markets commented I wish to thank Jean Luc for his trust in such an important transaction for both himself and his partners JA Delmas has a rich history in West Africa and we are proud to have played a part at this junction Our team supported by MCB Group s broad range of capabilities has once again displayed its ability to execute cross border transactions which require solid technical skills and rigorous transaction management Kane Mohamed El Fadel Managing Director Regional Head of Capital Markets amp Structured Finance Sub Saharan Africa commented This acquisition financing is a perfect illustration of Societe Generale Group s strong footprint in Africa In order to accompany our clients we have built a strong team comprising of international and local experts with a combination of sector knowledge technical expertise structuring and execution capabilities to deliver optimal solutions Herbert Smith Freehills advised the consortium of lenders while Baubigeat Zeller Asafo amp Co and Allen amp Overy provided legal advice to the borrower Eponyme Partners a Paris based advisory firm acted as M amp A adviser to the buyer
Mauritius Commercial Bank (MCB) Capital Markets and Societe Generale Côte d’Ivoire acted as Co-Lead Arrangers on the EUR 135 million debt financing for the acquisition of JA Delmas, Caterpillar dealer in West Africa

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Capital Markets

MCB Capital Markets (“MCBCM”), a subsidiary of MCB Group (https://www.MCB.mu), and Societe Generale Côte d’Ivoire (“SGCI”) through its Structured Finance Group for Sub-Saharan Africa (“SFG AFS”) are pleased to announce that they acted as Co-Lead Arrangers in raising approximately EUR 135 million to finance the acquisition of JA Delmas (“JAD”), the exclusive dealer for Caterpillar in francophone West Africa.

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The Delmas family has held the representation for this iconic brand, the world’s leading manufacturer of yellow metal machinery, for nearly a century.

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MCB Group

This successful debt raise attests to the depth of MCB Group’s capabilities, including acting as Co-Lead Arranger, Security Agent, Facility Agent, Accounts Bank and largest Lender on the transaction.

It also reflects the robustness of the Mauritian International Financial Centre as a platform to structure and fund significant deals in Africa.

Societe Generale Group in West Africa

The transaction also bears testimony to the expertise of Societe Generale Group in West Africa and echoes its strengths in delivering strategic financing solutions for regional champions, with SGCI acting as Co-Lead Arranger and second largest Lender.

Jean-Luc Konan

The acquirer is a newly incorporated Mauritius domiciled investment vehicle, jointly owned by Jean-Luc Konan, founder of Groupe COFINA (financial institution in West & Central Africa ), and Mohamed Al Bahar (“MAB”), the Caterpillar dealership in five countries in the Arabian Gulf.

Chief Executive

JAD operates in 11 countries with a turnover of approximately EUR 700 million and has over 2,000 employees.

Following this transaction, the business will embark on an accelerated growth path led by its current Chief Executive and other senior managers, who will remain with the business.

Through Groupe COFINA, Jean-Luc Konan, the new Dealer Principal, and Chairman will extend the group’s reach in francophone West Africa while MAB will play a key role as technical partner.

Jean-Luc Konan

Jean-Luc Konan, founder and Chief Executive of Groupe COFINA, commented: “We made the right choice in appointing MCBCM and SGCI as Co-Lead Arrangers.

Their teams worked through and led this transaction to completion with tenacity, expertise, and professionalism.”

Rony Lam

Rony Lam, Chief Executive of MCB Capital Markets, commented: “I wish to thank Jean-Luc for his trust in such an important transaction for both himself and his partners.

JA Delmas has a rich history in West Africa and we are proud to have played a part at this junction.

Our team, supported by MCB Group’s broad range of capabilities, has once again displayed its ability to execute cross-border transactions, which require solid technical skills and rigorous transaction management.”

Kane Mohamed El Fadel

Kane Mohamed El Fadel, Managing Director, Regional Head of Capital Markets & Structured Finance Sub-Saharan Africa, commented: “This acquisition financing is a perfect illustration of Societe Generale Group’s strong footprint in Africa.

In order to accompany our clients, we have built a strong team comprising of international and local experts with a combination of sector knowledge, technical expertise, structuring and execution capabilities to deliver optimal solutions.”

Herbert Smith Freehills

Herbert Smith Freehills advised the consortium of lenders while Baubigeat Zeller, Asafo & Co and Allen & Overy provided legal advice to the borrower.

Eponyme Partners, a Paris-based advisory firm, acted as M&A adviser to the buyer.

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