Vantage Capital, Africa’s largest mezzanine fund manager, announced today that it closed a €30 million equity investment for the acquisition of a significant minority stake in Promamec, a Moroccan medical distribution business. The funds invested by Vantage Capital facilitated the exit of the private equity fund AfricInvest and will also serve to part-fund Promamec’s next phase of development. Mr. Naoufal Lahlou, CEO of Promamec, commented “We are delighted to welcome into our shareholding Vantage Capital, a leading pan-African investment firm. Since our very first discussions, Vantage Capital has demonstrated its total alignment with our vision.”Mr. Luc Albinski, Executive Chairman at Vantage Capital, added, “We are proud to have concluded our third Moroccan deal. Vantage Capital was advised by Derenia Capital who acted as buy-side advisor for the transaction, and by Clifford Chance (in Morocco) who acted as its legal counsel.

Source: News Business Ethiopia July 28, 2023 08:44 UTC