Asafo & Co. Advised Mayelia Participations On Acquisition Of SICTA

Asafo & Co. advises Mayelia Participations on acquisition of SICTA

Asafo & Co. advised Mayelia Participations on the legal and strategic aspects of its acquisition of 100% stake in Société Ivoirienne de Contrôle Techniques Automobiles et Industriels (SICTA), a landmark transaction positioning Mayelia as a major player in the vehicle technical inspection sector in West Africa.

The deal was concluded on 2 April 2025 for several billion CFA francs, with Mayelia acquiring 95% of SICTA from its Swiss parent company SGS SA and the remaining 5% from Georges N’Dia, Chairman of Société Ivoirienne de Banque.

With this acquisition, Mayelia aims to expand its operations across West Africa, targeting market leadership in at least five countries over the next three years.

The transaction was formalized at a ceremony in Geneva, attended by David Fofana (CEO, Mayelia) and his deputies, Moustapha Traore and Dominique Gouvernayre.

Asafo & Co. provided comprehensive legal counsel on the transaction, with the team led by Julien Baubigeat (Partner) and supported by Inès Abdesselem (Associate). The firm worked in collaboration with EY, which advised on the financial and strategic dimensions of the deal.

The acquisition was backed by a consortium of financial institutions including BGFI Bank Côte d’Ivoire, Banque d’Abidjan, AFG CI, and Orange Bank.

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