Delmas Investissements et Participations (“DIP”) and the Delmas family have signed a transfer agreement for their Caterpillar dealership activity to a consortium conducted by Ivorian entrepreneur Jean-Luc Konan. Included in the sales is JA Delmas and its network of African representative companies in charge of sales and after-sales in 11 West African countries.
The transaction is a result of market evolution and a strategic process leading to implementing a transformation plan towards governance anchored on the African Continent.
Jean-Luc Konan, who will be named the new regional dealer by Caterpillar, created the Cofina Group in 2013, a meso-finance institution recognised leader in western and central Africa in financing small and middle-sized companies. With presence in 9 countries, Cofina Group currently employs close to 1,500 people.
The buyer was advised by Eponyme Partners merchant bank and Baubigeat, Asafo & Co and Allen & Overy.
The Asafo & Co. team advising Jean-Luc Konan and his team was led by partners Benoit de Monval (pictured left) and Patrick Larrivé (pictured right), assisted by associates Martin Van Box Som, Cyril Kalfat and Thami El Idrissi.
The seller was advised by Rothschild&Co merchant bank and EY and Lexco law firm.
The co-arranging banks are MCB Financial Advisers and Société Générale Côte d’Ivoire.