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A WORD FROM
THE CHAIRMAN
2
This year should bear key assets to
boost the economic gears through: A confirmation of Morocco's regional
integration, particularly with its return to the
African Union, consolidating the
development of sustainable activities in
Africa.
This context calls for independent investment
banks to fully play their role in this
momentum, efficiently making the link
between entrepreneurs and capital, but also
between companies and
opportunities and between
investment
development
savers and
products.
Red Med is fully committed in this process by
relying on its independence, strong values,
expertise and in-depth knowledge of the
economic and regulatory ecosystem. As
such, we offer two types of high value-added
services: Corporate Finance through Red
Med Finance and Asset Management
Strong macroeconomic fundamentals;
A robust banking sector and a
sophisticated asset management
industry;
A capital market with considerable
development potential;
Independent supervisory bodies (Bank
Al Maghrib, ACAPS, AMMC,…) working
to strengthen the confidence of
investors, entrepreneurs and medium
savers;
A large volume of available liquidity not
injected into the economy;
An ecosystem of large companies and
SMEs in demand for services and
support to boost their development;
The development of high added-value
business sectors (renewable energy,
automotive, aerospace, etc.) and an
increase in the local integration rate;
Continuity of state policy based on
performance and results-oriented of
public finance that should result in
privatization, launching public-private
partnership projects, appealing public
savings and private placements or the
establishment of innovative financing
tools;
through Red Med Asset Management.
TABLE OF CONTENTS
1 - About us
2 - RMF core business
3 - RMF team
4 - Credentials
3
4
1 ABOUT US
ABOUT
US
RMF ethical values combined with
our sharp expertise enable us to
provide customers with a solid
support in their development projects
and equity raising needs.
RMF has an extensive network of
both private and institutional clients,
nationally and internationally.
Our proven experience and deep
knowledge of the financial markets,
economic, legal and accounting
environments help us provide our
customers with high added value
services.
In addition, we are fully independent
from other financial institutions.
Our code of ethics and strict
confidentiality policy as well as our
customer-oriented structure enable
us to focus entirely on the
challenges our customers face. We
provide objective personalized
solutions.
EXPERTISE NETWORK
EXPERIENCE INDEPENDENCE
Red Med Finance (RMF) was founded in 2004 by Abdeslam ABABOU, an M&A professional
with more than 25 years of experience. RMF is an investment bank specialized in corporate
finance and asset management.
5
Advisor to national and international companies on M&A transactions
in Morocco and throughout Africa;
Advisor to the Moroccan government on privatization transactions;
Advisor to SMEs in capital financing restructuring;
RMF has also developed a sharp expertise in the following industries :
Telecommunications;
Renewable energies;
Natural resources;
Tobacco;
Shipping;
Agribusiness;
Retail;
Pharmaceutical;
Mining;
Banking & Insurance;
Infrastructure including construction and general contracting.
RMF POSITIONING
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INDEPENDENT JUDGMENT AND OBJECTIVE ANALYSIS OF CUSTOMERS NEEDS AND CHALLENGES
RMF provides its customers with expertise on a complete range of ser-
vices, including:
Industry perspectives;
Market analysis and competitive positioning;
Strategic advisory;
Industrial development solutions;
Coordination between stakeholders (legal and tax advisors, auditors,
bankers ...);
Business Plan Modeling;
Evaluation of companies for mergers, acquisitions or sale;
Assistance in negotiations with counterparties;
Management of equity/debt raising process.
MERGERS AND ACQUISITIONS
8
RMF assists its clients throughout the complex tender process through a
comprehensive range of services:
Strategic Study and identification of the transactions objectives;
Company evaluation and determining appropriate transactions price range;
Obtaining the necessary permits from market regulators;
Coordinating communication plans;
Selecting brokers upon evaluation of skills and fees;
Constitution of a distributing syndicate.
BUYOUT
PROPOSALS DEEP UNDERSTANDING OF STAKEHOLDERS AND OPTIMIZED OPERATIONS CONDITIONS
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FINANCING INNOVATIVE FINANCING SOLUTIONS FOR OPTIMAL CONDITIONS WITH PERFECT KNOWLEDGE OF THE DEBT MARKET
RMF provides advising on finding and optimizing funding sources.
The independent nature of RMF enables it to negotiate the best terms
and conditions for financing arrangements with numerous financial
institutions and the stock exchange.
RMF assists its customers at every stage of the process :
Choosing the right instruments to be issued depending on market
opportunities;
Dealing with the legal and fiscal aspects.
RMF specializes in the following financing operations :
Financing of acquisitions;
Financing of growth;
Recapitalization;
Capital financing restructuration.
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PRIVATIZATION
PROVEN EXPERIENCE IN PRIVATIZATION TRANSACTIONS
Our proven track record in this sector and knowledge of the
key players enables us to offer our clients high added value
services such as:
Assessing and negotiating optimal transfer mechanisms
to meet the needs of both the government and purchasers;
Advising clients throughout the privatization and company
valuation process, according to its characteristics
and business environment (regulatory
framework, competition ...);
Assisting clients when negotiating key components of
the transfer (terms of sale, shareholders agreement,
future regulatory requirements ...);
Providing recommendations on optimum conditions
for growing a company’s business following its
privatization.
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A WIDE NETWORK OF NATIONAL AND INTERNATIONAL FINANCIAL AND BUSINESS PARTNERS
The experience of RMF allows us to carry out the various steps
related to strategy consulting, such as:
Sector analysis and benchmarking;
Critical analysis of a business model;
Identification of key partners;
Analysis of options concerning financial and legal structuring;
Business plan and valuation;
Assisting clients with tenders and/or concessions identification
and submittals including negotiations with the relevant stakeholders;
Assisting clients in the development and implementation of their
CSR activities.
STRATEGY
CONSULTING
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A SHARP EXPERTISE IN THE ASSET MANAGEMENT
ACTIVITY
Red Med Asset Management (RMAM) is a subsidiary company of Red Med
Finance, which main mission is to ensure the sustainability and growth of
the funds it is entrusted with depending on the client risk/return profile.
RMAM provides customized services and high standards of asset
management targeting the following categories of investors:
Companies interested in growing their cash surpluses;
Institutions and large companies;
High net worth individuals: resident or non resident private clients.
RMAM started the certification process ISAE “the International Standard on
Assurance Engagements 3402,” which is the first international standard,
globally recognized as a way to document and demonstrate the practice of
monitoring in connection with the activities and management of business
assets.
ASSET
MANAGEMENT
13
ASSET
MANAGEMENT
RMAM offers clients a diverse range of funds:
Three funds launched in July 2011 : (i) a monetary fund (Monetary
Alpha), (ii) a bond fund short and long term (Alpha Income) and (iii) an
Equity fund (Dynamic Alpha).
RMAM has launched in April 2015, a bond fund Alpha Secure, invested
in Treasury bonds and securities guaranteed by the state. The UCITS
2016 performance on a year-on-year basis is 4.5%.
In May 2016, RMAM set up a short term bond fund with a banking
thematic (Alpha Bank) composed of the best signatures of local
banks.
RMAM is considering the establishment of a “Green Fund” invested in
“Green Bonds”, part of the vision of the Authority of the Moroccan
Capital Markets (AMMC) to promote the financing of the green
economy and socially responsible companies.
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PERFORMANCES RMAM now has a diverse customer base, including major
institutional investors (Insurance Companies, Pension Fund,
Banks), as well as individuals.
RMAM operates according to the highest standards of the
profession, particularly in terms of asset allocation and risk
management and is in full compliance with the rules of AMMC.
The UCITS RMAM achieve strong performances on different
asset classes, thanks to a dynamic and careful management
strategy.
PERFORMANCES OF RMAM’S UCITS VS BENCHMARKS
* Annualised returrn by 23/11/2018
15
BENCHMARK 2013 2014 2015 2016 2017 2018
MBI CT 4,15% 3,89% 2,63% 2,44% 2,28% 2,39%*
MBI MLT 2,25% 16,82% 4,31% 5,34% 3,02% 3,30%*
MBI - - 2,27% 5,18% 2,78% 3,14%*
MASI -2,62% 5,55% -7,22% 30,46% 6,39% -10,13%*
OPCVM Net Assets * 2013 2014 2015 2016 2017 2018
FCP ALPHA MONETAIRE 1 211,4 4,33% 4,38% 3,26% 2,58% 2,64% 2,48%*
FCP ALPHA INCOME FUND 392,6 4,14% 6,75% 3,47% 3,69% 2,78% 2,39%*
FCP ALPHA SECURE FUND 1 139,4 - - 2,74% 3,40% 2,57% 2,47%*
FCP ALPHA DYNAMIC FUND 8,7 4,54% 4,03% -2,34% 39,04% 10,09% -5,30%*
FCP ALPHA BANK FUND 1 065,8 1,83% 2,64% 2,66%*
Abdeslam is Partner, Chairman of Red Med Finance since 2004.
He has 25 years of experience in mergers and acquisitions and has
led several consulting missions, capital development and restructuring
transactions. His client portfolio includes major international and
national groups working in telecommunications, energy, transport,
environment, retail and food industry.
Abdeslam is as well President and Founder of Red Med Asset
Management (2011).
Abdeslam is also a board member of several companies in the
renewable energy sector, finance, tourism, agro and mechanical
engineering.
Between 2000 and 2003 he was co-founder and CEO of Advisory &
Finance Group and President andco-founder of Advisory Asset
Management.
Abdeslam began his career in 1990 at Bank Paribas in Paris then in
London. He left in 2000 as manager of mergers & acquisitions
department.
Abdeslam holds an engineering degree from ENSEEIHT France.
Abdeslam ABABOU
Partner RMF
President RMAM
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Amine JOUAHRI
Managing Partner - RMF
Amine joined the Red Med Finance team in January 2015.
Between January 2010 and December 2014, Amine served as Director of Strategy and
Development of Wafa Assurance in Morocco, where he oversaw obtaining insurance
licenses for 3 subsidiaries in Africa, and contributed to the development of a new
business in Morocco. He also supervised the development and management of three-
year strategic plans.
Between January 2004 and December 2009, Amine was Consultant
Manager in Winter & Associates , 1st actuarial consulting firm in France.
Amine was responsible for the technical and financial monitoring of
group pension insurance contracts, but also the organization of calls for
tenders in insurance and asset management. He also supervised benefit
liabilities assessments missions, and valuation of insurance and
reinsurance companies.
Amine is a graduate from HEC Paris School
(IFAC Major - Finance Audit Information
Consulting) and also holds a Bachelor in
Electrical Engineering from the University of Saint
Louis in the United States.
Sofia MANSOURI
Project Manager - RMF
Sofia joined the team of Red Med Finance in May 2011. She has since been
involved in various corporate finance projects, specializing in the pharmaceutical,
health, mining and renewable energy industries.
Between 2009 and 2011, Sofia was in charge of the automotive industry in the Marketing &
Strategy Departement of the Moroccan Investment Development Agency (AMDI).
Between 2004 and 2009, Sofia was CFO of Platinium Music, a production and music distribution
company licensed by Universal Music France.
From 2001 to 2002, Sofia worked as a Project Manager within the Canadian International Development
Agency.
Sofia graduated from UQAM in Montreal, holds a BA in Management Accounting and a Master in Corporate
Finance. Sofia also holds a Certificate in English Language from McGill University.
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Amine ALAMI MESMOUDI
Manager - RMF
Accountant Memoriste registred at OEC
Amine joined the team of Red Med Finance in July 2016,
From January 2012 to June 2016, Amine served as Senior Consultant and Auditor at
Ernst & Young Morocco where he was repsonsible of various missiosn of due
diligence and audit for large national and international companies,
Amiene amsp sipervised several missions of consolidation (Moroccan
Standards and IFRS
Amine is graduated from ISCAE (normal cycle – Maro in
Finance),
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Amine IBA
Manager RMF
Amine joined the Red Med Finance team in October 2018.
Between October 2014 and August 2018, Amine held the position of Senior Associate
at CDG Capital's Debt Capital Markets team in charge of financing strategy operations
on behalf of major operators in the public sphere. Amine carried out large-scale market
transactions, including the first perpetual corporate bond issue in Africa (OCP), as well as
bond issues on behalf of ADM and Tangier Med II for a cumulative amount of nearly 10 billion
dirhams. Amine has also participated in financial restructuring operations of listed companies.
. Between October 2014 and August 2018, Amine held the position of Senior Associate at CDG Capital's Debt Capital Markets team in charge of financing strategy operations on behalf of major operators in the public sphere. Amine carried out large-scale market transactions, including the first perpetual corporate bond issue in Africa (OCP), as well as bond issues on behalf of ADM and Tangier Med II for a cumulative amount of nearly 10 billion dirhams. Amine has also participated in financial restructuring operations of listed companies.
Amine graduated from CASS Business School and holds a Bachelor's degree in Business Administration from Al Akhawayn University in Morocco.
Meryem JEBARI Junior Financial Analyst - RMF
Meryem joined the team of Red Med Finance in September 2018.
Before joining RMF as a Financial Analyst, Meryem was an intern in the team for 5 months
(from February to June 2018). As part of her final year project, Meryem worked on the
financial modeling of a wind farm project in the context of Law 13.09.
The financial model developed by Meryem coupled with her strong computer and scientific
computing skills as well as her knowledge in corporate finance enabled her to graduate
top of her class.
Meryem graduated from Mohammedia School of Engineering as an Engineer in financial
modeling and scientific computing.
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He was Managing Director of Valoris Management from 2013 to
2017, where he managed all the operational aspects : front office,
back office, middle office, internal contral, analysis & research, as
well as the commercial aspect with a portfolio of leading instutitional
clients and large companies.
From 2010 to 2013, Khalil was responsible of the front
office covering bond and equity management at Valoris
Management.
Khalil joined Red Med Asset Management in August 2017.
Khalil has more than ten years experience in the asset management business.
Khalil holds a bachelor’s degree from Al
Akhawayn University in finance and a
master’s degree in international financial
management.
Khalil El Yamani General Manager -RMAM [email protected]
Marouane El Yamani Investment Director - RMAM
Marouane joined Red Med Asset Management in May 2017.
He is in charge of leading management of both equities and bonds ensuring the
optimization of the risk/reward investments adapted to customer needs.
From 2013 to 2017, Marouane has served at CDG Capital as multi asset sales where he
contributed to the inssuance of the largest Moroccan bonds (OCP, TMSA, ONCF...) He was
also in charge of the management of 2.5 Bn MAD in the bond market.
Marouane worked for one year as a fund of funds manager assistant at Allianz Global Investors (AGI
Paris).
Marouane holds a Magistere in banking and finance from Panthéon – Assas Paris II University and a master
degree in technical financial and banking.
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Intissare EL BAJTA
Asset Manager - RMAM
Intissare joined the team of Red Med Asset Management in June 2016.
From 2015 to 2016, Intissare worked as an asset manager at Capital Trust Gestion
where she was in charge of the funds’ management by the implementation of various
investment strategies.
Given her solid academic background in applied mathematics and optimization,
combined with quantitative and analytical skills, Intissare developed a mathematical/stochastic
model for the optimization of a multi assets portfolio under the VaR and CVaR constraints. This
model has been chosen by the African Institute of Risk-Management (IARM) as the best master’s
thesis on Quantitative Finance in Africa for the year 2015.
Intissare holds an engineering degree in financial modeling and scientific computing from Mohammedia
School of Engineering.
Mohcine El Fahri El Fassi
Equity Manager - RMAM
Mohcine joined the team of Red Med Asset Management in February 2013.
Mohcine is in charge of the management of the RMAM's mutual funds as well as
the monitoring of moroccan financial markets (both fixed income and equities).
As an asset manager, he is involved in the production of analysis for stocks in
the Moroccan stock exchange and the implementation of the
Management strategies.
Previously, Mohcine was responsible of the realization of advanced
research notes within the preparation of the management
committees.
Mohcine holds a master degree in finance from Institut
des Hautes Etudes Management (HEM) Rabat and is
preparing the Chartered Financial Analyst designation
from CFA Institute.
AGRI FOOD SECTOR
AGRICULTURAL AND FISHING SECTORS RETAIL SECTOR
Advisor to LA LAITIERE
INVEST on the leveraged
buyout of BEST MILK.
Advisor to L’AGENCE
POUR LE DEVELOPPEMENT
AGRICOLE for the identification
of agricultural opportunities in
the agricultural sector.
Advisor to L’AGENCE
NATIONALE POUR LE
DEVELOPPEMENT DE
L’AQUACULTURE as part of the
call for expressions of interest for
aquaculture projects in the
region of Dakhla.
Advisor to BRITISH
AMERICAN TOBACCO for the
privatization of the tobacco
Authority (MAD 10,2 Bn in bids).
Advisor for its development
strategy in Morocco.
Advisor to HYPER SA for
its joint venture with GROUPE
CARREFOUR.
Advisor to DELASSUS group
on the leveraged buyout of
Duroc (a Delassus subsidiary /
production and marketing of
cherry tomatoes).
Advisor to HYPER SA for its
partial capital opening and
funding of its growth strategy.
CREDENTIALS CORPORATE FINANCE
24
Advisor to Centrale
Danone for the merger
absorption of Fromagerie
des Doukala
ENERGY, ENVIRONMENT AND MINING SECTORS
Advisor to ACWA
POWER, Developer and
operator of the Ouarzazate
solar plant Noor 1 – (160
MW).
Advisor to MANAGEM for
its development strategy.
Advisor to ACWA
POWER, Developer and
operator of the Ouarzazate
solar plant Noor 2 – (200
MW).
The world’s largest solar plant - (510 MW)
Advisor to BEATONA for
for the sale of its shares in
the Moroccan recycling
company SMRR.
Advisor to ACWA POWER,
Developer and operator of
the Ouarazazate solar plant
Noor 3 – (150 MW).
Advisor to ACWA POWER,
Developer and operator of the
Khalladi wind farm - (120
MW).
Advisor to CONNEX
(subsidiary of Véolia
Environement) for its
organic growth in Morocco.
25
Advisor to AMENDIS for
fund raising of 500 M Dhs.
TÉLECOMS / IT SECTORS
Advisor to VIVENDI for
the acquisition of 35% stake
in Maroc Telecom, granting
it control of the company
(MAD 23,3 Bn).
Advisor to GROUPE
MIFA for the sale of its
telecommunications activities.
Advisor to MAROC
TELECOM for the
acquisition of both fixed
and mobile telephone
licenses in Mali.
Advisor to LUFTHANSA
GEBÄUDEMANAGEMENT
IT-SERVICES for its
development in Morocco.
Advisor to TELECOM
ITALIA for the acquisition of
the second mobile phone
license in Morocco.
Advisor to MOROCCAN
GOVERNMENT in defining
and implementing its strategy
for Maroc Telecom
privatization.
Advisor to INQUAM UK
(a Qualcomm and Saudi Orger
joint venture) for the
acquisition of 3RP license in
Morocco and raising its equity
and debt.
26
INSURANCE SECTOR PHARMACEUTICAL SECTOR
TRANSPORT SECTOR
Advisor to WAFA
ASSURANCE in
strategic development.
Advisor to COMARIT for
the acquisition of COMANAV
FERRY.
Advisor to MAMDA RE in
strategic development in
Africa.
Advisor to COMARIT’s lead
shareholders for the
acquisition of 55% stake in
COMARIT (MAD 700 millions
transaction).
Advisor to Promopharm SA
in the sale of 64% stake HIKMA.
Advisor to HIKMA to
launch a public tender offer.
27
CREDENTIALS RED MED ASSET MANAGEMENT
28
57, avenue Mehdi Ben Barka – Souissi Rabat
Tel : +212 5 37 20 44 / +212 5 37 63 20 46
Fax : +212 5 37 63 98 15
www.redmedfinance.com
