Mirova, an affiliate of Natixis Investment Managers, and manager of the Land Degradation Neutrality (LDN) impact fund, has completed the acquisition of a majority stake in Atlas Fruits Company.
The Land Degradation Neutrality (LDN) Fund, promoted by the United Nations Convention to Combat Desertification (UNCCD) and Mirova, is an impact investment fund that invests in cost-effective sustainable land management and ecosystem restoration projects around the world.
Atlas Fruits Company specializes in the cultivation of citrus fruits and this investment is part of a development strategy to implement sustainable practices in the citrus production sector in Morocco, with a focus on efficient water management. The funds will also allow for the development of Atlas Fruits Company by creating 1,300 jobs and increasing its cultivation area from 250 hectares to 1,000 hectares by 2028.
UGGC Africa acted as legal advisors to Mirova in this transaction. The team composed of Ali Bougrine (partner, pictured left), Myriam Slaoui (lawyer) and Fabien Gagnerot (lawyer).
ADNA acted as legal advisors for Atlas Fruits Company with Safia Fassi Fihri (partner, pictured right) and Laila Boujida (lawyer).