The leading pharmaceutical company Laprophan is set to receive an investment of approximately $71.9 million for a minority stake in its capital. The transaction led by Mediterrania Capital Partners is subject to the usual regulatory approvals.
For the first time since its creation some 70 years ago, family-owned pharmaceutical company Laprophan will open its capital to foreign investors. Last Tuesday, the company announced an investment protocol with private equity firm Mediterrania Capital Partners and private sector financing institution Proparco and development finance institutions FMO and DEG.
Under the protocol, the consortium of investors will disburse MAD750 million ($71.9 million) for a minority stake in Laprophan. The deal still needs to obtain the usual regulatory approvals, including those of Morocco's Competition Authority.
The funds will allow Laprophan to expand its business in Morocco, offering new products and also boosting its export capabilities. Farid Bennis, General Manager of Laprophan, stressed that this agreement should help meet the Kingdom's public health needs while strengthening Laprophan's international positions.
Chamberline Moko
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...
• Mozambican government and Huawei considering the construction of a local mobile phone factory catered to rural needs • Special features for rural...
• Djibouti adopts new digital code to accelerate digital transformation, with focus on data protection, cybersecurity, and e-commerce. • The move aligns...
• Record drought tests Zambia's dependence on hydropower, impacting its vital mining industry • Adoption of dedicated solar projects, such as the recent...
• The African Development Bank (AfDB) has approved €25.5 million in funding to boost Mauritanian SMEs and stimulate inclusive growth.• Mauritania’s...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...