UGGC Africa, assists Mirova in the capital opening of Atlas Fruit Company to Mirova’s Land Degradation Neutrality Fund

Paris, July 4, 2022 – UGGC Africa, a leading firm in Africa, has advised Mirova (an affiliate of Natixis Investment Managers), manager of the Land Degradation Neutrality (LDN) impact fund, on 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 a unique impact investment fund that invests in cost-effective sustainable land management and ecosystem restoration projects around the world. LDN has already invested more than $40 million in Africa, Asia and South America, out of a total investment of more than $150 million.

Atlas Fruits Company is a company specialized in the cultivation of citrus fruits, initially led by four founders: Kamal Chraibi, Youness Chraibi, Hicham Chraibi and Youssef Lamrani. 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.

This investment will 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.

The UGGC Africa team that advised Mirova was composed of Ali Bougrine (partner), Myriam Slaoui (senior associate) and Fabien Gagnerot (senior associate).

Atlas Fruits Company was advised by ADNA, with Safia Fassi Fihri (partner) and Laila Boujida (senior associate).

About UGGC Africa

In 2002, UGGC Avocats was one of the first independent French law firm to open a subsidiary in Casablanca and an Africa Desk in Paris. These two platforms allowed it to operate in the Maghreb and in sub-Saharan, Central and West Africa.

Almost 20 years later, it was natural for the firm to adopt the new name UGGC Africa, a symbol of its pan-African development. With the integration of two major law firms located in Ivory Coast and Cameroon, UGGC Africa is able to offer expertise in business law at the highest international standards, combined with a strong regional presence.

UGGC Africa covers more than 20 expertise (M&A, Private Equity, International Investments, Anti-Trust, Litigation and Arbitration, etc.).