A major surprise seems to be unfolding within the Kilani family’s business, which recently took over the former car dealership STA (Société Tunisienne de l’Automobile), previously owned by Nouri Chaabane.
This comes after the Kilanis also acquired the state-confiscated Adwya Company from the Matri family in 2022, subsequently delisting it from the Tunis Stock Exchange.
The outsider and his timely entry
Soon after the mandatory public offering was imposed by the Financial Market Council (CMF), allowing shareholders to sell their shares at the same price offered by the Chaabane group, an unexpected figure emerged: Amen Allah Ben Temessek.
A former small investor and current board member of STA (until the end of this fiscal year), he announced, through a stockbroker, that he had just passed the 5% ownership threshold in STA’s capital.
He also revealed two key points: he “plans to continue acquiring shares” in STA, something welcomed by retail investors on the Tunis Stock Exchange, and he “intends to acquire control of the company and request his appointment as a board director.”
This latter claim stirred confusion, as the language used in stock market contexts is highly specific and loaded with meaning.
Could Ben Temessek really take over the STA Board?
According to common understanding (and even AI tools like Google’s), to “take control” of a company means obtaining the ability to direct its operations and decisions, usually by acquiring a majority stake, over 50% of voting rights. While there can be exceptions, such as related-party acquisitions or preexisting control, the announcement hints at serious intentions.
Ben Temessek has openly stated his intention to buy more shares. Unless there was a major error by the broker (which would be inexcusable), his declaration could imply he aims to chair the board if he succeeds in gaining control.
However, many market professionals dismiss this scenario, as the Kilanis have already secured the majority through the public offering and mandatory offering, effectively ensuring control of STA.
They may even block Ben Temessek’s renewal on the board, especially since Sara Limam Masmoudi has already been appointed as STA’s new board chair as of May 29, 2025.
Who Is the Outsider, Ben Temessek?
Control for Ben Temessek might instead mean being appointed general manager, especially as Monème Bousarssar nears retirement, with his board term also ending in 2025. But who exactly is Amen Allah Ben Temessek?
Reportedly in his forties, this Tunisian businessman declined to respond to calls or messages, just like the Kilani family, who are known for strictly controlling their communications. Sources suggest Ben Temessek may have been part of Nouri Chaabane’s original STA investment team.
He was not included in the new STA board announced on May 29, 2025. He might simply be deploying inherited wealth to acquire a 5% stake, hoping it earns him a seat on the board.
So how will the Kilani family view this unexpected newcomer? As a potential partner, or as an intruder to be sidelined or opposed?
