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50.52% SHARES OF CEMENT SA ON RADAR

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 MBABANE – Are you looking at investing beyond local borders or expanding your business portfolio to being a cement producer?
Well, Carthage Cement SA has the solution.  


Carthage Cement SA, a public company which is specialised in the production of cement, aggregates and concrete has issued an expression of interest for the acquisition of a majority stake up to 50.52 per cent.


In correspondence reaching the Business Desk, it has been announced that the Tunisian State and Bina Corp (the ‘Sellers’), the controlling shareholders of Carthage Cement S.A, has decided to proceed, through a public tender, to the sale of majority stake (50.52 per cent) in the company to a strategic and/or a financial investor capable of insuring its management and development.


Advisory


For this purpose, the consortium formed by ECC Mazars, IEG Tunisia – corporate advisory and Mrabet Avocats (the ‘advisor’), is acting as the Exclusive Advisor of Al Karama for achieving the entire sale transaction (the ‘transaction’).


The purpose of the call for expression of interest (the ‘call’) was to inform investors about the transaction, to describe the sale process, and to guide the interested investors on the pre-qualification document’s withdrawal.
It has been explained that the sale process would be conducted in two phases: a pre-qualification phase and a binding offer phase open to all pre-qualified investors.


In terms of withdrawal of pre-qualification document, it was explained that investors interested in participating in the sale process are requested to withdraw the pre-qualification document that defines the transaction process and the pre-qualification criteria at Al Karama Holding’s headquarters located in Rue du Lac d’Annecy, Passage du Lac Malawi - Les Berges du Lac - Tunis.

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