Home » Stake of Mauritian Lagasse family in IBL Limited now worth $130.24 million

Stake of Mauritian Lagasse family in IBL Limited now worth $130.24 million

by Editorial Team

The joint stake of the Lagasse family, one of the wealthiest families in Mauritius, in Ireland Blyth Limited, is currently worth about $130.24 million (MUR5.32 billion).

The family is known for its role in modernizing industry and commerce in Mauritius and leading top companies such as My Leisure Group and IBL Group.

IBL Limited is a world-class diversified conglomerate based in Mauritius and one of the largest businesses on the island with an operational footprint in over 19 countries.

For the past 190 years, IBL has gone from strength to strength by anticipating market trends, investing strategically and surrounding itself with the right talent.

The company operates under various names in the commerce, engineering, financial services, logistics, aviation and shipping, retail, seafood and marine sectors, representing over 200 brands.

As of March 2021, the company had more than $1.64 billion (MUR67.84 billion) in assets to its name, while its total liabilities amounted to $1.02 billion (MUR42.22 billion), which puts its total equity at $620.91 million (MUR25.62 billion).

Family members Arnaud Lagesse, Benoit Lagesse, Hugues Lagesse, Jean-Pierre Lagesse, Thierry Lagesse and Stephane Lagesse hold directorial positions in IBL.

Aside from acting as directors, they are also the single largest substantial shareholders in the company. They own a joint ownership stake of 16.81 percent of the group’s total issued ordinary shares.

As of press time at 11:07 am (UTC+1), the shares of IBL Limited on the Mauritius Stock Exchange were trading at $1.139 (MUR46.55) per share. This puts the year-till-date performance of the company’s shares at -1.90 percent.

With a share price of $1.139 (MUR46.55) per share, the conglomerate’s issued shares are valued at $774.61 million (MUR26.24 billion). 

Lagasse’s joint stake, which amounts to 114,369,469 issued ordinary shares, has a market value of $130.24 million (MUR5.32 billion).

Other Lagasse family assets

Aside from their stake in IBL Limited, the Lagasse family has a stake in Molasses Alcohol & Export Co., Phoenix Beverage Limited, United Basalt Products, Lux Island Resorts, Sun Resorts, GML Management, AfrAsia, Valuers and Assessors, and other leading companies.

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