Jorf Lasfar Energy Company announced that it has received MAD 500 million in funding from RMA Watanya, SA, Societe Centrale De Reassurance SA, and Monceau Assurances.

Jorf Lasfar Energy Company announced a private placement of common shares for gross proceeds of MAD 500,000,000 on November 20, 2013. The transaction is expected to close by the end of 2013.

On December 3, 2013, Jorf Lasfar Energy Company closed the transaction. Pursuant to the transaction, the investors acquired 4.74% stake in the company. The transaction included participation from RMA Watanya, SA, Societe Centrale De Reassurance SA, and Mutuelle Centrale de Reassurance, a fund managed by Monceau Assurances. RMA Watanya, SA and Societe Centrale De Reassurance SA invested MAD 200 million each and Monceau Assurances invested MAD 100 million in the transaction.