CGF Bourse Shareholders Sell Majority Stake to LBOF

February 8, 2023

Cleary Gottlieb represented the historic shareholders of Compagnie de Gestion Financière et de Bourse (CGF Bourse) on the disposal of a majority stake of CGF Bourse to LBOF Securities International (LBOF), a consortium controlled by the French fund manager LBO France Gestion.

The transaction is part of a partnership between the historic shareholders of CGF Bourse and LBOF, with the objective of making the CGF group a reference in asset management in francophone West Africa.

The transaction signed on October 12, 2022, and closed on February 8, 2023, following approval of the transaction by the Authority of the Financial Markets of the West African Monetary Union (AMF-UMOA).

CGF Bourse is a regulated leading securities broker and asset management company in francophone West Africa and a pioneer participant to the Abidjan-based regional stock exchange.