26 JUL 2023

MCB leads financing structuring for Nouvelle Mici Embaci acquisition in Ivory Coast

MCB has been mandated to act as lead arranger for the structuring of the leveraged financing enabling the acquisition of Nouvelle Mici Embaci (NME) by a consortium of investors which includes Advanced Finance and Investment Group fund ("AFIG Funds"") and Norfund, the Norwegian Investment Fund for Developing Countries.

This transaction, which was concluded on June 30, is one of the biggest private equity deals in West Africa in recent years.
NME, owned by Groupe Carré d'Or for more than 15 years, is a leader in manufacturing cardboard and paper packaging, polypropene bags, and recycling in Ivory Coast and French-speaking sub-Saharan Africa. The company applauded for its know-how and the quality of its service, has a client portfolio made up of the leading industrial players in the region, both locally and internationally. This acquisition by AFIG Funds and Norfund aims to support the company's regional growth ambitions to make it a "true regional champion in the packaging industry."
As lead arranger, MCB played a crucial role in structuring this financing in collaboration with its local banking partner, Bridge Bank Group Cote d'Ivoire (BBGCI). 'MCB's Corporate & Institutional Banking (CIB) team completed this complex cross-border transaction thanks to the expertise of Global & International Corporates, Credit Analysis & Structuring, and Legal Advisory teams. MCB and BBGCI were backed in this transaction by Hogan Lovells (Paris) and IKT Avocats (Ivory Coast).

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