UGGC & associés counsel to AfricInvest fund for its formation

After assisting its promoter, the Tuninvest group, for the structuring and initial capital finance transaction (EUR 19 million) of AfricInvest Ltd, UGGC & Associés was involved as consultant of AfricInvest for its second such transaction in the amount of EUR 9 million. Incorporated in Mauritius in July 2004 by the following investors: Société Belge d’Investissement pour les Pays en Développement (BIO), Finnish Fund for Industrial Cooperation Ltd (Finnfund), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden, N.V. (FMO), African Financial Holding (AFH), Banque Européenne d’Investissement (BEI), Bank of Africa - Benin S.A., Bank of Africa - Niger S.A. and Bank of Africa - Burkina Faso S.A., AfricInvest Ltd is a private equity fund investing in North and sub-Saharan Africa. This transaction investment from two of the original investors: Finnfund (EUR 1.6 million) and FMO (EUR 2 million) of three new investors: Proparco (EUR 3 million), Oikocredit (Netherlands) (EUR 2 million) and Bank of Africa – Ivory Coast S.A. (EUR 400,000). All legal aspects of this were supervised by Patrick Larrivé, partner, and Andrew Coyne, associate, of UGGC & Associés (Casablanca and Paris offices), for AfricInvest Ltd.