Fourteen years following launching Cap Mezzanine I, CDG Capital Private Equity (the strong arm of the CDG group in the private equity business) is seeking to liquidate this vehicle, which was its second successful experience of raising investment funds when it was created. .
To do so, the Old Lady-backed manager first needed to sell its last salable stake, namely Folly Fashion, the Moroccan fast-fashion specialist known for its Marwa brand and store network.
Read also | Mounir Trifess: “school must play a role in the social ascent of the middle class”
Indeed, for several months, Cap Mezzanine I has been actively looking for a buyer of its nearly 25% stake in the capital of the group founded and created by Karim Tazi. A stake held since 2010 and that its holder was supposed to sell it a few years ago. It must be said that having missed the 2016 window when the other investment fund, namely Afric Invest, had exited the capital of Folly Fashion, Cap Mezzanine I preferred to extend its holding period by a few years in the hope of improving its added value. However, with the onset of the Covid-19 crisis and the maturity of the Marwa network (whose size is now close to a hundred points of sale), it was necessary to extend its presence in the capital even further to find a buyer. to his credit.
Read also | Gharb Maamora Auto, the new Renault and Dacia showcase in Kenitra
If the sale of its 25% in Folly Fashion takes place over the next few months, CDG Capital Private Equity might very well liquidate Cap Mezzanine I this year and thus return to its investors at least a hundred million additional dirhams following having already repaid the entire capital (nearly 350 million DH). As for the other residual stake, namely Buzzichelli Morocco, which has been in compulsory liquidation for almost four years, it is already fully provisioned in the Cap Mezzanine I accounts.
