Pefaco has been de-listed from the Malta Stock Exchange, months after its trading was suspended. It was also fined €60,000.

The Malta Financial Services Authority had first flagged the fact that the company was in breach of the rules in April 2017, as it had failed to published its financial reports for the year ended December 31, 2016 but the company failed to publish any of the subsequent ones.

Grupo Pefaco was established under Spanish law 20 years ago, and is present in 13 countries on three continents.

Its subsidiary Pefaco International is registered in Malta and has shares listed on the Malta Stock Exchange.

Read: African gaming company targets €47m income

The MFSA also said on its website that Pefaco International "failed to publish a Company Announcement containing information on legal proceedings in which the company is involved", but gave no further details.

The Financial Times reported two years ago that French prosecutors are investigating whether the Bolloré Group – which already operates 17 ports in Africa – was helped by the chairman of Grupo Pefaco, Francis Perez (the CEO of the Maltese subsidiary), to get concessions for ports in Guinea and Togo.

Read: Maltese-listed company embroiled in French inquiry

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