The CIEL group is a family-owned conglomerate, listed in Mauritius and also operating in Asia and Africa. Since it began its operations in the sugar industry in 1912, the group has diversified into textiles, hospitality, healthcare and finance. It currently has 35,000 employees. The group has been listed on the Official Market of the Stock Exchange of Mauritius since January 2014.
Stake in CIEL
In 2014, FFP subscribed to the CIEL group’s reserved rights issue for €16 million, giving it a 7.6% stake in the company. The capital increase was intended to fund the group’s development in the Indian Ocean and Africa.
At 31 December 2018, the FFP group (via its wholly owned subsidiary FFP Invest) held a 7.6% equity interest. FFP Invest is party to a shareholder agreement.
Sébastien Coquard is a member of CIEL’s Board of Directors and Strategy Committee.
Net Asset Value per share fell in 2018, and the investment portfolio was valued at MUR15,392 million at 31 December 2018.