Danish fund manager APMC acquires 49% stake in Moroccan grain terminal operator

MOROCCO – Holmarcom Group, a leading diversified industrial group in Morocco has offloaded 49% of its stake in its grain terminal operator, Mass Céréales al Maghreb (MCM) to Danish company A.P. Moller Capital (APMC), as part of its development ambitions in Africa.

MCM handles nearly half of the annual imports of bulk cereals in Morocco, through its two unloading and storage terminals located in the ports of Casablanca and Jorf Lasfar.

The company provides handling and storage services, contributing to an efficient logistics chain for key food supplies in the North African country.

With the partnership, Holmarcom Group retains 51% of stakes in MCM and will jointly pursue new investments that enable more reliable and efficient supply chains, support food security, and create sustainable jobs in African markets, indicated APMC.

“We are delighted to welcome A.P. Moller Capital’s investment into MCM. Holmarcom and APMC share guiding principles and have a shared vision for supporting MCM’s efforts to be the leading grain logistics player across Africa,” said Mohamed Hassan Bensalah, Chairman and CEO, Holmarcom Group and Chairman of MCM.

The investment in MCM reflects A.P. Moller Capital’s strategy of investing in logistics infrastructure, led by strong management and with a strong partner, to facilitate trade and economic development in Africa.

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“Holmarcom and APMC share guiding principles and have a shared vision for supporting MCM’s efforts to be the leading grain logistics player across Africa.”

Mohamed Hassan Bensalah, Chairman and CEO, Holmarcom Group and Chairman of MCM

A.P. Moller Capital carried out the acquisition through its Africa Infrastructure Fund launched in 2017, targeting to invest in infrastructure assets on the African continent with a focus on energy and transportation.

“Today, MCM handles more than half of all grain bulk imports in Morocco and has an ambition to become a leading grain logistic player across Africa.

“Together with HOLMARCOM, we are proud to support this endeavor, which goes well in hand with our focus on combining attractive investments with a purpose of building sustainable businesses, creating jobs and positively impacting society,” said Kim Fejfer, Managing Partner, A.P. Moller Capital.

A.P. Moller Capital is a fund management company regulated by the Danish Financial Supervision Authority and is an affiliate of A.P. Moller Holding.

Meanwhile, the final wheat and barley production numbers for Morocco’s 2020 crop are 1.77 MMT of common wheat, 0.79 MMT of durum wheat, and 0.64 MMT of barley, according to the government as indicated in an USDA reports.

The country’s 2020/21 wheat imports are estimated to increase by 35 percent over the prior year reaching 6.2 million MT due to an estimated 57 percent production shortfall.

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