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Saturday 12 June 2021
HomeNewsTunisia: CARTE Group buys BNP Paribas’s 39% stake in UBCI

Tunisia: CARTE Group buys BNP Paribas’s 39% stake in UBCI

The BNP Paribas group and the CARTE group, on Wednesday, signed an agreement on the acquisition by the CARTE group of 7.800.000 shares of the “Union Bancaire pour le Commerce et l’Industrie” (UBCI) for a price of 23,500 dinars per share, for a total amount of 183.3 million dinars, representing a 39% stake in the capital of UBCI held by the French banking group which retains a stake of just over 11% in the capital of UBCI.

The implementation of this agreement is subject to obtaining the regulatory authorizations in force. The acquirer specifies that it does not intend to exceed this level of share holding.

This agreement is a continuation of a more than 40-year cooperation between UBCI and the insurance activities of the CARTE Group.

It will enable UBCI to consolidate its development with an expanded client base and a range of financial products enhanced by the expertise of the CARTE Group.

In order to sustain the links built by the BNP Paribas Group for more than a century in Tunisia and to ensure the continuity of the service to their customers, UBCI will remain the

privileged partner for Tunisia of the international network of the group BNP Paribas, and BNP Paribas group, UBCI’s international partner for its Tunisian customers.

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