Mediterrania Capital Partners, a Barcelona-based private equity fund, is to acquire through its third fund (MC III) a stake in 'Travaux Généraux de Construction de Casablanca (TGCC)', a building and real-estate company, announced the company in a communiqué sent to Yabiladi on Monday. The new acquisition is set to support the company, founded in 1991 by Mohammed Bouzoubaa and operating in Morocco and Sub-Saharan Africa, through its expansion plan in both the North and Sub-Saharan Africa, where there is a growing demand for residential and infrastructural buildings. TGCC which employs more than 8,250 people and is active through its subsidiaries in Gabon and Côte d'Ivoire sees this new investment as a boost for achieving its business plan for the coming years, the same source adds. For the record, Mediterrania Capital, which is present in Abidjan, Algiers, Barcelona, Cairo and Malta, has been in Morocco since 2008. This consortium is considered as the first investment of the private equity firm's third fund (MCIII), which has recently completed its first close. Mediterrania Capital's objective is to implement its growth strategy by leading the governance of the companies it invests in and driving the key internal value creation process.
