MCB Group Limited (MUSE:MCBG.N0000) entered into a conditional agreement to acquire 84.4% stake in Compagnie des Villages de Vacances de L'isle de France Limitee (MUSE:COVI.I0000) from Club Méditerranée for MUR 1 billion on August 9, 2017. MCB Group offered to acquire 47.8 million shares at MUR 21.34 per share. The final price per share will be subject to foreign exchange and other completion adjustments. In a related transaction, MCB Group Limited made an offer to acquire the remaining 15.6% stake in Compagnie des Villages de Vacances. Completion of the transaction is subject to the satisfaction of certain conditions precedent set out in the agreement, including obtaining the approval of relevant authorities. MCB Capital Markets Limited acted as financial advisor to MCB Group.

MCB Group Limited (MUSE:MCBG.N0000) completed the acquisition of 84.4% stake in Compagnie des Villages de Vacances de L'isle de France Limitee (MUSE:COVI.I0000) from Club Méditerranée for MUR 1.1 billion on October 26, 2017. The transaction has been effected at a price of MUR 22.50 per share, after foreign exchange and completion adjustments. The conditions precedent referred in the agreement have been met.