Asafo & Co. with AFF on MAD 850 m capital increase

Asafo & Co. is advising Africa Feed & Food (AFF) — an integrated agro-industrial group operating in Morocco and with presence in West Africa, including Mali, Mauritania, and Senegal — on its capital increase to the benefit of RNAF III, a North African investment fund managed by RMBV, and Proparco, the private sector financing arm of Agence Française de Développement.

The transaction consists in a MAD 850 million (approximately USD 90 million) capital increase, entailing a minority stake acquisition by RMBV and Proparco in AFF.

The Asafo & Co. team

Partner Patrick Larrivé (pictured) leads the Asafo & Co. team on the matter, working alongside senior associate Kamil Zizi and associate Shagufta Ashfaq.