Mediterrania Capital Partners Acquires a 43 Percent Stake in Cieptal Cars (MENA)

Source: Mediterrania Capital Partners

North Africa-focused private equity firm Mediterrania Capital Partners has acquired a 43 percent stake in Algeria-based long-term car rental company Cieptal Cars. The transaction was structured through Mediterrania Capital II. The company, which owns a fleet of 761 cars, focuses on corporate clients, primarily from the oil and gas sector. With the new investment, Cieptal Cars plans to accelerate its regional expansion and grow its car and truck fleet. Financial details of the transaction were not disclosed.