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A mauritian-based Group with
a truly international footprint

A Mauritius-based diversified investment group, listed on the Stock Exchange of Mauritius, operating five business clusters spread across Mauritius, Africa & Asia.

EMPLOYING MORE
THAN 30,000 PEOPLE
THROUGH ITS
INVESTEE COMPANIES

LISTED ON
STOCK EXCHANGE
OF MAURITIUS

INVESTMENT PORTFOLIO

for the year ended 30 June 2016

Market Capitalisation
MUR 9.3BN

Group Total Assets
MUR 57.3BN

Revenue
MUR 18.5BN

 

factsheet

CIEL Limited
 

About Us History

  •  

    2017

    The Medical and Surgical Centre Limited ("MSCL") completes the acquisition of Ex-Apollo Bramwell Hospital's business operations.

  •  

    2016

    The International Finance Corporation (IFC) and Proparco acquire minority shareholding in CIEL Healthcare Limited.

  •  

    2016

    CIEL Healthcare Limited completes transaction of 22.81% stake in Nigeria’s leading private healthcare provider, Hygeia Nigeria Limited.

  •  

    2016

    Anahita Estates Ltd (part of Alteo) sealed a partnership with renowned architects, namely Jean-Michel Wilmotte and Alistair MacBeth, to develop exclusive villas on the northern parcel of Anahita.

  •  

    2016

    Tropic Knits opened a new factory in Coimbatore, India.

  •  

    2015

    Amethis Finance takes 24.9% shareholding in CIEL Finance

  •  

    2015

    CIEL Healthcare Limited increases its stake to 58.60% in The Medical and Surgical Centre Limited, The Company which owns Clinique Darné

  •  

    2015

    CIEL Healthcare Africa takes majority stake of 90.10% in International Medical Group - Uganda

  •  

    2015

    Sun Limited acquires 100% of Anahita Hotel Limited, owner of the Four Seasons Resorts Mauritius

  •  

    2015

    Optimisation of CIEL’s financial resources issue of MUR 1.05BN Notes programme at an average interest rate of 5.68%

  •  

    2015

    Alteo through Sucrière des Mascareignes Limited acquires 51% stake of Transmara Sugar Company Limited

  •  

    2014

    Successful private placement at CIEL Level to raise EUR 50M with FFP, ND Initiative, FIMALAC, Proparco and Private Investor

  •  

    2014

    CIEL takes full control of Sun Limited (formerly known as Sun Resorts Limited) through a shareholding of 59.79% in the company

  •  

    2014

    Acquisition of controlling 51% stake in bank BNI Madagascar SA through investment in Indian Ocean Financial Holdings Ltd

  •  

    2014

    The Kibo Fund II first closing at USD 50M

  •  

    2014

    CIEL takes control of Sun Resorts Ltd (SRL) through a shareholding of 39.32% in the company.

  •  

    2014

    Listing of CIEL Limited on the Official Market of the Mauritius Stock Exchange.

  •  

    2010

    CIEL Textile launches factories in Bangalore, India and Bangladesh.

  •  

    2009

    CIEL Investment becomes the majority shareholder in
    Sun Resorts Ltd and shareholder in Fortis Clinique Darné.

  •  

    2008

    Launch of The Kibo Fund LLC with a committed capital of €29m.

  •  

    2008

    Official Inauguration of Anahita World Class Sanctuary (Anahita The Resort and Four Seasons Resort Mauritius at Anahita) and Inauguration of the Vallée de Ferney, ecotouristic and conservation activities. 

  •  

    2007 - 2008

    Acquisition of First City Bank Ltd, now Bank One, in a joint venture with I&M Bank of Kenya.

  •  

    2007

    Launch of CIEL Investment’s first capital raising of a total of MUR 1.2bn.

  •  

    2005

    Incorporation of CIEL Capital Limited and launch of IPRO.

  •  

    2005 - 2007

    CIEL Textile externalises its operations in India, China and Bangladesh.

  •  

    2003

    Launch of IRS projects in Mauritius with Anahita and the start of eco-tourism with the Domaine de l’Etoile.

  •  

    2001

    New structure for Group CIEL : CIEL Textile Ltd, CIEL Agro-Industry Ltd and CIEL Investment Ltd.

  •  

    2000

    Acquisition of the sugar estate TPC Ltd in Tanzania, in partnership with the Groupe Quartier Français de l’Ile de la Réunion.

  •  

    1998

    Factory upgrading at DRBC Factory and launch of Powerplant Consolidated Energy Ltd.

  •  

    1996

    Consolidation of Floreal Knitwear's activities and launch of the Hong-Kong office. 

  •  

    1994

    Incorporation of Aquarelle Clothing Ltd and acquisition of Harris Wilson.

  •  

    1992

    Incorporation of Cirne Financial Services Limited (now Investment Professionals Ltd) and landmark year for Floreal Knitwear as the 2nd biggest worldwide producer of Woolmark pull-overs.

  •  

    1989

    Start of CIEL's international expansion with the creation of Floreal Madagascar.

  •  

    1978 - 1988

    Consolidation of CIEL Textile with various acquisitions.

  •  

    1972

    Start of diversification in textile with the acquisition of Floreal Knitwear.

  •  

    1970

    Acquisition of Ferney Sugar Estate and centralisation of operations in Deep River Beau Champ (DRBC).

  •  

    1912

    Acquisition of Deep River Sugar Estate Co Ltd which produces 2,200 tons of sugar yearly.

About Us Our Philosophy

As entrepreneurs, we see and embrace opportunities. We look forward, go further, deeper and higher.
Going beyond horizons inspires our vision and actions. It’s part of who we are, on a journey that never ends.
We thrive to go beyond in everything we undertake and develop. We challenge the status quo, we don’t give up.
We constantly improve. We dare to explore and pioneer.

ENTREPRENEURIAL Attitude

Winning Spirit

Strong Human Approach

Integrity

Pioneers, We go Beyond

Hard work

Sense of partnership

About Us Investment portfolio

INVESTMENT PORTFOLIO

for the year ended 30 June 2016

 

CIEL invests in five strategic sectors where the Group already enjoys a solid market position and/or because these markets are experiencing high growth rates in the region.

TEXTILE

18% of our portfolio

Solid track record
Over 40 years of proven experience

Established global presence
Operations strategically located in Mauritius, South Asia and Madagascar offering competitive labour and a network of trade agreements (e.g. Africa Growth and Opportunity Act (AGOA)) with key markets

Vertically integrated business units
From yarn spinning to finish garments to optimise costs and ensure quality control

Geographically diversified client portfolio
Clients in both hemispheres, thus reducing seasonality effect and ensuring steady revenues streams

AGRO & PROPERTY

25% of our portfolio

Proven expertise
Over 100 years’ experience in sugar industry

Established global presence
Partnership with Tereos, the third largest sugar group in the world, to drive international growth in African countries (e.g. Kenya and Tanzania) suffering from deficit in sugar production

Energy capacity to address energy deficit
Three renewable energy, biomass plants to export to the national grid in Mauritius and in Tanzania

Valuable land ownership
Owner of a sizeable piece of land bank in the South-East region of Mauritius (3,000 hectares directly through our subsidiary Ferney Ltd and through Alteo Ltd) with interesting property development opportunities as the Mauritian government seeks to develop smart cities

HOTELS & RESORTS

34% of our portfolio

Strong growth in home market
Mauritius is witnessing high growth rate in tourist arrivals boosted by strong growth from new markets such as Asia with the recent opening of air access

Stunning assets
7 hotels and 2 golf courses located in prime beachfront locations in Mauritius and one iconic island hotel in the Maldives

Synergies and optimisation across portfolio
Increased synergies and revenue optimisation across all properties to support improvement of future financial performance

In-house tour operators
Revenue generation optimised through a combination of in-house tour operators and external partners

Strong regional growth perspective
Presence in the fastest growing tourism industry in the world: Africa, the Indian Ocean and Asia

FINANCE

16% of our portfolio

Low banking penetration rates in the region
BNI Madagascar is set to benefit from low banking penetration rates of less than 5% in Madagascar. It enjoys a market share of 22% in that same market
Bank One, is well positioned to tap on the International Banking opportunities in Africa. It also has an expanding corporate and retail presence in Mauritius

Synergies between portfolio companies
Synergies between our portfolio of companies generate additional revenues and allow all entities to share best practices, client portfolio and talent

Strategic partnership
Our partnership with Amethis Finance, a leading private equity firm investing in Africa, and multiple opportunities on the African continent with a fast expanding financial services sector offer significant growth potential

HEALTHCARE

7% of our portfolio

Strong growth of healthcare market in Africa
Africa is expected to post the fastest health care spending growth globally as over half a million additional hospital beds and USD 25 to 30 billion are needed over the next decade to meet Africa’s healthcare demand

Significant opportunities for private healthcare providers
50% of Sub-Saharan Africa’s total health expenditure is geared towards private healthcare providers such as CIEL Healthcare’s network of hospitals

Strategic partners and network
CIEL Healthcare’s network of partners (Fortis Healthcare, International Finance Corporation, Proparco, IFHA-II, Swiss-Re, Kibo II) and established operations in Mauritius, Uganda and Nigeria make it an increasingly effective player in the healthcare sector in the region

Share price

Last updated on Friday
28 April 2017

MUR 7.58

SEMDEX : 2,016.94

About Us Board of Directors

  • P. Arnaud Dalais

    CIEL Group Chairman since 2010
    Chairman of CIEL following the recent reorganisation of the Group in 2014

  • Sébastien Coquard

    Appointed Non-Executive Director
    on 15 May 2014

  • G. Christian Dalais

    Appointed Non-Executive Director
    on 12 February 1966

  • Jean-Pierre Dalais

    Appointed Director on 28 February 1995 and Executive Director on 14 February 2014

  • R. Thierry Dalais

    Appointed Non-Executive Director
    on 26 August 2013

  • Pierre Danon

    Appointed Non-Executive Independent Director on 24 January 2014

  • L. J. Jérôme De Chasteauneuf

    Appointed Director on 13 April 2012 and Executive Director on 14 February 2014

  • Antoine Delaporte

    Appointed Non-Executive Director
    on 26 August 2013

  • Norbert Dentressangle

    Appointed Non-Executive Director
    on 15 May 2014

  • Roger Espitalier-Noël

    Appointed Non-Executive Director
    on 24 January 2014

  • M. A. Louis Guimbeau

    Appointed Non-Executive Director
    on 8 July 1991

  • J. Harold Mayer

    Appointed Non-Executive Director
    on 24 January 2014

  • Marc Ladreit De Lacharrière

    Appointed Non-Executive Director
    on 15 September 2014

  • Catherine McIlraith

    Appointed Non-Executive Independent Director
    on 23 January 2015

  • Xavier Thiéblin

    Appointed Non-Executive Independent Director
    on 18 December 2013

OUR ALTERNATE DIRECTORS

  • Vincent Ménez

    Appointed Alternate Director of Norbert Dentressangle on 23 January 2015

  • Jacques Toupas

    Appointed Alternate Director of Marc Ladreit de Lacharrière on 5 February 2016

About Us International presence

Hotels & Resorts

Finance

Healthcare

Agro & Property

Textile

About Us Key partners

  • ADENIA PARTNERS

    A private equity fund investing in Africa, investor in CIEL

  • AMETHIS FINANCE

    An investment fund, launched in partnership with Edmond de Rothschild Private Equity, entirely dedicated to long-term responsible financing in Africa, which invested in CIEL Finance

  • DENTRESSANGLE INITIATIVES SAS

    A holding enterprise & European leader in transport & logistics, investor in CIEL

  • FFP INVEST

    FFP is a listed company controlled by the Peugeot family Group, investor in CIEL

  • FOUR SEASONS

    The Canadian international luxury, five-star hospitality company, which operates the Four Seasons at Anahita, Mauritius, a real estate developed & owned by SUN

  • FORTIS

    One of the largest hospital network in India which partnered with CIEL Healthcare to operate Fortis Clinique Darné and Ex-Apollo Bramwell Hospital in Mauritius & share their management expertise for our healthcare investments in Uganda & Nigeria

  • GROUP MARC LADREIT DE LACHARRIERE

    Owner of 40% of the Lucien Barrière Hotel Group & holding 20% of the Fitch Group, investor in CIEL

  • IFHA-II

    The Investment Fund for Health in Africa, a private equity fund and investor in CIEL Healthcare

  • INTERNATIONAL FINANCE CORPORATION (“IFC”)

    A member of the World Bank Group & the largest global development institution, which invested in CIEL Healthcare & co-invested with CIEL Healthcare in Hygeia, Nigeria

  • PROPARCO

    A French development finance institution, investor in CIEL and CIEL Healthcare

  • SHANGRI-LA

    The Hong-Kong based company that runs more than 100 luxury hotels around the world; it invested and manages our legendary Touessrok Hotel Resort & Spa in Mauritius

  • TEREOS

    The world’s 3rd largest sugar producer co-investing with us in Africa through Alteo

About Us Group structure

Ciel Limited

  • Ciel Textile

    • Woven
      • AQUARELLE CLOTHING
      • CONSOLIDATED FABRICS
      • LAGUNA CLOTHING
      • PASTEL BLUE
    • Fine Knits
      • TROPIC KNITS
      • CDL KNITS
    • Knitwear
      • FLOREAL KNITWEAR
      • FERNEY SPINNING MILLS
  • Ciel Agro & Property

    • ALTEO
    • CIEL PROPERTIES
    • EBÈNE SKIES
    • FERNEY
      • LA VALLÉE DE FERNEY
  • Ciel Hotels & Resorts

    • ANAHITA THE RESORT
    • SUN
      • AMBRE
      • FOUR SEASONS resort at anahita
      • KANUHURA
      • LA PIROGUE
      • LONG BEACH
      • SHANGRI-LA’s Le Touessrok
      • SUGAR BEACH
  • Ciel Finance

    • CIEL FINANCE
      • BANK ONE
      • BNI MADAGASCAR
      • IPRO
      • MITCO
      • THE KIBO FUND
    • CIEL CORPORATE SERVICES
    • IPRO GROWTH FUND
  • Ciel Healthcare

    • CIEL HEALTHCARE
      • CIEL HEALTHCARE AFRICA
      • THE MEDICAL & SURGICAL CENTRE (FORTIS CLINIQUE DARNÉ & EX-APOLLO BRAMWELL HOSPITAL)
      • INTERNATIONAL MEDICAL GROUP (IMG)
      • LABORATOIRE INTERNATIONAL DE BIO ANALYSE (LIBA)
      • HYGEIA NIGERIA

Abous Us Shared Services

  • CIEL Corporate Services Ltd

    CIEL Corporate Services Ltd is a service company which provides a unique combination of corporate services and strategic support to the main operational clusters of CIEL. Based at the head office in Ebene, it formulates the overall strategic planning of the group and also offers several services such as :

    • Strategic Opportunities, Strategic Planning & Decision-Making
    • Risk Management, Financial Services, Accounting
    • Business Valuations
    • Corporate Finance
    • Feasibility Studies
    • Internal Audit
    • Project Management
    • Treasury Management
    • Legal Support & Advice
    • Corporate Affairs
    • Company Secretary
    • Group External and Internal Communication
    • Human Resources Management 
    • Corporate Sustainability
    • Operational Excellence
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  • CIEL Corporate Services Ltd - Management

    Jean-Pierre DALAIS

    Group Chief Executive, CIEL Limited

    Jean-Pierre Dalais was appointed Group Chief Executive of CIEL in January 2017. He is also the former Chief Executive Officer of CIEL Investment Ltd. Jean-Pierre holds a key leading position within the CIEL Group, focusing on the management and development of the Group’s operations, both in Mauritius and internationally, with a close supervision of its Hotels & Resorts, Financial Services and Healthcare clusters. He graduated with an MBA from The International University of America, and previously worked at Arthur Andersen (Mauritius and France).

    Jérôme De Chasteauneuf

    Group Finance Director, CIEL Limited

    Jérôme de Chasteauneuf was appointed Group Finance Director of CIEL in January 2017. He joined CIEL in 1993 as Project Financier, promoted as Head of Finance of the Group in 2000 and was then Executive Director & Head of Finance of the Group. He holds a key leading position within the CIEL Group and leads the Corporate Finance and Treasury Team of CIEL. Prior to joining CIEL, Jérôme worked for PricewaterhouseCoopers (UK and Jersey), between 1989 and 1993. He holds a BSc in Economics, Accounting and Finance from London Business School and is a qualified Chartered Accountant of England and Wales.

    Hélène Echevin

    Chief Officer - Operational Excellence

    Hélène Echevin was appointed Chief Officer – Operational Excellence of CIEL as from March 2017. In parallel of her transversal operational role across the Group, Hélène has a more direct executive role in our Healthcare sector. Prior joining CIEL, she worked for Eclosia Group and Harel Mallac Group and counts 17 years of experience in operations & project management at both company and corporate levels. She holds an engineering degree in Food Technology from Polytech, France and completed her academic skills by an executive management program at INSEAD. Hélène was the first lady President of the Mauritius Chamber of Commerce. She is a member of the board of Maurilait LTD and MARENA.

     
    Christine Sauzier

    Head of Legal Affairs

    Christine Sauzier joined CIEL Capital Ltd in 2006 as Senior Executive Legal Affairs and was promoted Head of Legal Affairs of CIEL Limited in 2010. She is specialised in corporate and company law and has been involved in several deals, including important merger and acquisitions transactions as well as the setting up of the first private equity fund sponsored by CIEL, the Kibo Fund. Christine holds a Licence en Droit Privé from Faculté des Sciences Juridiques de Rennes, France and an LLB (Hons) from University of Mauritius. Before joining CIEL, she was practising as an Attorney-at-Law at Etude Lagesse-Sauzier in partnership with Me. Danielle Lagesse, Attorney-at-Law.

    Clothilde de Comarmond

    Company Secretary

    Clothilde de Comarmond qualified as a Chartered Secretary in 1999 and started her career at CIEL in 2000.  She acts as Group Company Secretary–Corporate Affairs and has under her direct responsibility the delivery of expertise corporate secretarial services to a portfolio of large listed and non-listed companies. Clothilde has significant expertise in corporate services. She is an Associate member of The Institute of Chartered Secretaries and Administrators (ICSA) of England.

    Mathieu Razé

    Head of Communications

    Mathieu Razé joined CIEL Corporate Services Ltd in December 2015 as Head of Communications. Prior to this, Mathieu spent 10 years in communications agencies, working in Brussels, Paris, New York and most recently Kuala Lumpur as Head of Corporate Communications for Edelman Malaysia. Mathieu holds a Master’s degree in Political Sciences from University Paris X Nanterre as well as a Bachelor degree in Legal and Economics from London Metropolitan University and University Paris V Rene Descartes.

    Amélie Audibert

    Head of Human Resources

    Amélie Audibert joined CIEL Corporate Services Ltd in 2008 as Communication and HR Coordinator and was appointed Manager in 2010. Prior to this, she was the HR Manager of Anahita The Resort. Before joining CIEL, Amelie was part of the HR and Communication Team of two leading local companies, Food & Allied Group and IBL Group.

    Amélie holds an MSc in Social Sciences and Economics, a “DESS” in Human Resources Management from FASSE Institut Catholique, Paris and an MBA International from Dauphine Université Paris – IAE Université Paris 1 Pantheon Sorbonne.

    Sébastien Daruty

    Group Financial and Corporate Manager

    Sébastien Daruty joined CIEL, in March 2014, as Group Financial and Corporate Manager. Prior to joining CIEL, Sébastien has worked in London since 2005 for Jeffreys Henry, Ernst & Young and most recently for EDF Energy. He holds a BSc in Mathematics and Statistics from the University of Southampton and is a qualified Chartered Accountant of England and Wales.

    Danny Runghen

    Head of Treasury – Azur Financial Services Ltd

    Qualified as Chartered Certified Accountant UK in 1998, Danny Satuda Runghen joined CIEL in February 2006 as Head of the Treasury Department. Before joining the group he spent 7 years with Super Group Limited, a South African JSE Listed group of companies, as Financial Manager / Treasurer to all Mauritian based companies. He also worked for 3 years with Multiconsult Limited, an offshore management company, as Fund Administrator.

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