25/07/2025
Mauritius has entered a new chapter in its economic development with the creation of ER Group, born from the merger of two major players: ENL and Rogers. Officially launched on July 1, 2025, and presented to the public on July 23 at ER House in Vivéa Business Park, this strategic move consolidates over 7,400 employees across 13 countries, with a market capitalization of Rs 13 billion.
ENL, Rogers’ majority shareholder since 2012, led the merger to simplify group structure, enhance governance, and accelerate decision-making. The move was approved in June by shareholders and regulatory bodies.
Gilbert Espitalier-Noël, Group CEO of ER Group and ENL post-Scheme, emphasized that the aim is not size for its own sake, but to create “a more agile, efficient, and resilient company.” Philippe Espitalier-Noël will oversee the Finance, Hospitality & Travel, and Logistics sectors, while leading sustainable development in Bel Ombre and Case Noyale.
ER Group spans seven sectors, including agribusiness, real estate, and technology. Its SEM listing on July 9 at Rs 41.50 per share reflects a 30% discount on its NAV of Rs 59.66. ENL post-Scheme will trade at Rs 0.01 per share.
While the merger creates significant potential, it raises concerns about market concentration and governance challenges. Integrating cultures and managing scale will be crucial. ER Group now faces the real test: delivering sustainable, inclusive growth at home and beyond.