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Interlaw’s Moroccan Firm Assists Mirova in the Capital Opening of Atlas Fruit Company to Mirova’s Land Degradation Neutrality Fund

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UGGC Africa, Interlaw’s partner firm in Morocco, has advised Mirova, manager of the Land Degradation Neutrality (LDN) impact fund, on the acquisition of a majority stake in Atlas Fruits Company.

The 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 USD in Africa, Asia and South America, out of a total investment of more than $150 million.

Atlas Fruits Company is a company specializing in the cultivation of citrus fruits. 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 included partner, Ali Bougrine and lawyers Myriam Slaoui and Fabien Gagnerot.