Transaction Summary
Mediterrania Capital Partners Ltd (MCP) has completed the full exit of its 10.5% stake in Akdital Holding S.A (Akdital), Morocco’s largest private healthcare group. While the transaction structure has not been publicly disclosed, if it were an open-market sale (or executed on similar terms) on the Casablanca Stock Exchange (CSE), Akdital’s market capitalisation of MAD 20.2 billion ($2 billion) at the time of exit would imply a valuation of approximately MAD 2.13 billion ($213.9 million) for MCP’s stake. Including the MAD 200 million ($20.8 million) proceeds from MCP’s earlier partial sale during Akdital’s 2022 IPO, the total realisation translates into a strong 9.3x multiple on the initial MAD 250 million investment made in 2020 (equivalent to a 9.1x multiple in USD terms). The divestment was executed through the Mediterrania Capital III fund (MC III), a €286 million ($309 million) closed-end fund launched in 2017, which focuses on minority growth equity
