Structuring and execution capability
Access to seed capital and debt financing
Relationship with investors
Acquisition of 93.4% stake in COVIFRA
In October 2017, MCB Real Assets completed the acquisition of 84.4% stake in COVIFRA, the owner of the Club Med, La Pointe aux Canonniers, a 394 keys resort located on the north coast of Mauritius, for an enterprise value of EUR 58.5 million. MCB Real Assets subsequently acquired a further 9% in COVIFRA. As part of the transaction, COVIFRA entered into a triple net lease with Club Med. Refurbishment works amounting to over EUR 40 million have been conducted since the acquisition.
COVIFRA is listed on the Development and Enterprise market of the Stock Exchange of Mauritius.
Investment in Le Domaine de Grand-Baie
In October 2018, MCB Capital Markets structured in a EUR 58.5 million project to develop Le Domaine de Grand-Baie, a 155 unit senior serviced residence located in Grand Baie, Mauritius. MCB Real Assets is a shareholder in the project alongside AEGIDE DOMITYS, a leading operator of senior residence in France, and 2Futures, a leading property developer in Mauritius.