Dubai firm buys Tunisian fish-farm business

Sokotra Capital, a Dubai firm set up by former UBS Group AG banker Albert Momdjian, led a consortium of investors in acquiring fish-farm L’Aquaculture Tunisienne for an undisclosed amount.

The company, based in Sousse, Tunisia, is the largest seabass and seabream hatchery and nursery in North Africa, with a current annual production capacity of 20 million fingerlings and 1,500 tons of fish per year, the two companies said in a statement Friday.

The deal builds on Sokotra’s investments in the agriculture and aquaculture sectors, and the firm said it plans to pursue more such investments in Africa and South East Asia. It will also seek to expand L’Aquaculture Tunisienne’s business in North Africa, gradually extending it to the Mediterranean basin.

“It is all about efficiency and about feeding our growing population,” Momdjian said. “The protein race has already started and we are very well positioned as a firm and as a team to benefit from it.”

Sokotra was founded in 2014 by Momdjian after more than 20 years in banking, including working for institutions like Credit Agricole SA and HSBC Holdings Plc.

Before setting up the investment firm, Momdjian was the head of UBS’s ultra-high net worth business for its wealthiest clients in the Middle East and Africa. Sokotra’s strategy is to invest along with family offices and institutions in fast-growing, developing markets. 

Disclaimer
The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.
Top