Morocco: Aradei Capital backs development of clinics

Listed Moroccan real estate company Aradei Capital has acquired a 51% stake in Akdital Immo, a real estate platform initially founded by Akdital and BFO Partners. The transaction is a share capital increase to fund a pipeline of private clinics in primary and secondary cities in Morocco. The completion of this transaction is subject to antitrust authorisation.

Akdital Holding is the largest private hospital operator in Morocco, while BFO Partners is a Moroccan construction company’s family office.

The joint venture (JV) has identified an initial investment programme of MAD 1 billion (about $111.5 million) from 2021 to 2023. This investment would fund 900 beds located in seven cities across Morocco: El Jadida (opened last June), Tangier, Agadir, Salé and Safi, as well as two other cities currently being analysed. These assets are leased to Akdital Holding under a long-term lease.

Dr Rochdi Talib, chairman and CEO of Akdital Holding, said: ”We are proud to welcome Aradei Capital to the shareholding of Akdital Immo. This strategic partnership allows Akdital Holding to pursue its objective of focusing on its core business, as a healthcare operator, and to benefit from Aradei Capital’s support and expertise in commercial real estate.”

Are you seeking private equity or venture capital investment to grow your company? Africa Private Equity News now offers you the opportunity to connect with investors backing African businesses. Contact us at editor@africaprivateequitynews.com for our rate card and more information.