Coface: agreement to acquire Cedar Rose Group, strengthening its information services in the Middle East and Africa
Paris, 3 February 2025 - 17.35
Coface announces that it has signed an agreement with Mr. Antoun Massaad and Mrs. Christina Massaad, co-founders of the company, to acquire the Cedar Rose Group.
With over 25 years' experience, Cedar Rose is one of the leading providers of business information solutions in the Middle East and Africa region. In a region where information is difficult to access and with positive economic growth outlook, Cedar Rose has built up a vast business network enabling it to produce data whose quality is recognized by its customers, including a number of multinationals.
Following the acquisition, Cedar Rose will become Coface's information provider in the region, for both credit insurance and information services sales. All Coface's customers will benefit from enhanced Coface data.
This external growth operation will enable Coface to further strengthen its information production capabilities in areas where information is not readily available. This acquisition aligns perfectly with the objectives of Power the Core 's strategic plan, which notably focuses on data excellence.
The closing of the acquisition is subject to customary closing conditions.
Ernesto de Martinis, CEO for Mediterranean and Africa region said:
"This acquisition enables Coface to strengthen its position in a zone that promises strong growth, where information remains difficult to obtain, and in which Coface has now been operating for many years. We look forward to welcoming Cedar Rose's teams to Coface and to working with their partners in the region."
Antoun Massaad, Cedar Rose Group's CEO and co-founder said:
"We are delighted to join the Coface team in the Mediterranean & Africa region (MAR). This acquisition is a major milestone in the Cedar Rose story, and I believe it will supercharge Coface's business information strategy. We are confident that our company, our employees and our international partners will all benefit from this smart strategic alliance."
CONTACTS
ANALYSTS / INVESTORS
Thomas JACQUET: +33 1 49 02 12 58 - thomas.jacquet@coface.com
Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 - rina.andriamiadantsoa@coface.com
MEDIA RELATIONS
Saphia GAOUAOUI: +33 1 49 02 14 91 - saphia.gaouaoui@coface.com
Adrien BILLET: +33 1 49 02 23 63 - adrien.billet@coface.com
FINANCIAL CALENDAR 2025
(subject to change)
FY-2024 results: 20 February 2025 (after market close)
Q1-2025 results: 5 May 2025 (after market close)
Annual General Shareholders' Meeting: 14 May 2025
H1-2025 results: 31 July 2025 (after market close)
9M-2025 results: 3 November 2025 (after market close)
FINANCIAL INFORMATION
This press release, as well as COFACE SA's integral regulatory information, can be found on the Group's website: http://www.coface.com/Investors
For regulated information on Alternative Performance Measures(see part 3.7 "Key financial performance indicators").
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COFACE: FOR TRADE With over 75 years of experience and the most extensive international network, Coface is a leader in trade credit insurance & risk management, and a recognised provider of Factoring, Debt Collection, Single Risk insurance, Bonding, and Information Services. Coface's experts work to the beat of the global economy, helping around 100,000 clients in 100 countries build successful, growing, and dynamic businesses. With Coface's insight and advice, these companies can make informed decisions. The Group' solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2023, Coface employed ~4,970 people and registered a turnover of €1.87 billion. www.coface.com (http://www.coface.com) COFACE SA est cotée sur le Compartiment A d'Euronext Paris Code ISIN : FR0010667147 / Mnémonique : COFA |
DISCLAIMER - Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 "Main risk factors and their management within the Group" of the Coface Group's 2023 Universal Registration Document filed with AMF on 5 April 2024 under the number D.24-0242 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group's businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.
Attachment
- 2025 02 03 PR Cedar Rose acquisition agreement (https://ml-eu.globenewswire.com/Resource/Download/31e59bb3-fa3d-4745-81e0-f161094ec213)
