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Wendel — Merger or Acquisition (November 2013)
17 slides from Wendel's merger presentation, Nov 29, 2013
Slide 1: Investment in Saham Group
29 November 2013 Investment in Saham Group
Slide 2: Wendel to become shareholder of Saham Group, alongside the founder of the company
Wendel to become shareholder of Saham Group, alongside the founder of the company n Investment thesis ü Second direct investment in Africa, in a fast growing region & industry, in line with Wendel’s 2013-2017 strategic plan ü A leading multi services group, mainly in insurance, well positioned to
Slide 3: Investment rationale
Investment rationale n A partnership with an entrepreneur with a unique track record of value creation in the region through organic growth and relutive M&A n An entrepreneurial team who demonstrated its ability to build partnerships with first-class partners n The opportunity to invest in a firs
Slide 4: Saham Group's company profile
Saham Group’s company profile Overview Key figures Pan-African Multi services group, founded in 1995, strongly involved in insurance business 2012 IFRS Saham Group SA key financials Diversification into businesses enjoying favorable • Consolidated revenues: €674 M trends and synergistic wit
Slide 5: Overview of the Saham Group
Overview of the Saham Group 13.33% Wendel Saham Group (3) 62.5% Saham finances & other 51.8% CRC services Morocco Lebanon 81.0% Net income group share 2012: MAD44.6 M / €4.05 M 79.94%(2) Morocco 100% Sub-Saharan Kenya 45% Africa1 67.0% Healthcare Angola 37.5% 55% 49.9% Ongoing launch of care centers
Slide 6: An outstanding presence in Africa
An outstanding presence in Africa Middle-east (Lebanon) (Morocco) #1 in Non-Life insurance #3 in Lebanon in the Life insurance Morocco #8 in Non-Life insurance Lebanon Algeria 2nd largest insurance player in (Kenya) Sub-Saharan Africa Leader in Côte Mali Niger d’Ivoire, Mali and Senegal Acquired in
Slide 7: Saham Group is led by an experienced management team
Saham Group is led by an experienced management team, with a broad range of operating and investing experience Moulay ü Graduated from University of Sherbrooke in Computer Sciences Hafid ü Senior advisor to the Ministry of Finance of Quebec ü CIO of Canadian insurance company Elalamy ü CEO of Co
Slide 8: Saham Group has a strong know-how in building profitable partnerships with first-class players
Saham Group has a strong know-how in building profitable partnerships with first-class players IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. 18.75% of Saham Finances Working with private enterprises in more than 100 co
Slide 9: Saham Group is the largest insurance group in Africa, excluding South-Africa
Saham Group is the largest insurance group in Africa, excluding South-Africa 2012 premiums in million dollars 838 679.5 648 603.1 413 Saham Wafa African RMA Axa finances Assurance Reinsurance Watanya Assurances Group Maroc Source Jeune Afrique – Hors Série 34 Investment in Saham Group 9
Slide 10: Why investing in Africa ?
Why investing in Africa ? Africa offers a superior growth potential ü Superior GDP growth: the African GDP has increased by around 5% on average over the last 10 years, and even more in sub-saharan Africa ü Strong demographics: the large and young African population (c. 1 billion people) and middl
Slide 11: An outstanding GDP & Population growth in the region
An outstanding GDP & Population growth in the region 3 000 USD bn, current 2050 : More than 2 billion people 2 500 2 500 000 2002-2018 : Growth of African population +10.7% per 2 2 000 annum 2 000 000 Billions of inhabitants 1 500 1 500 1.5 000 1995-2002 : 1 000 +1.7% per 1 1 000 000 annum 5000.5 00
Slide 12: A strong potential for growth in insurance and healthcare related businesses
A strong potential for growth in insurance and healthcare related businesses Insurance penetration rate in % of GDP Medical services availability Insurance is becoming a superior good in Africa 61 World Average 6.9% Physicians per 10'000 population (2005-2011) Hospital beds per 10'000 population (20
Slide 13: Saham Group in Wendel's strategy
Saham Group in Wendel’s strategy
Slide 14: Saham Group fits with Wendel's new investments profile
Saham Group fits with Wendel’s new investments profile Priority on unlisted companies ✓ ✓ Exposure to new economies ✓ Organic & external growth Benefiting from ✓ Ideal new long-term investment economic trends Control / co-control working together Moderate financial leverage ✓ with management, both s
Slide 15: Strategy for 2013-2017
Strategy for 2013-2017 Diversify sectorally and geographically, with priority on unlisted companies Ready to invest €2 billion: c. 1/3 in North America With significant exposure to high-growth c. 1/3 in Europe markets and regions c. 1/3 in Africa and other high-growth regions Return to investment gr
Slide 16: Disclaimer
Disclaimer • This document has been prepared by Wendel S.A. (“Wendel”) solely for use during the presenta?on, to be held on November 29, 2013. This document must be treated confiden?ally by aIendees at such presenta?on and may not be reproduced or redistributed to any other person. • No representa?on
Slide 17: Investment in Saham Group
29 November 2013 Investment in Saham Group