Bulgarian lead-acid and lithium battery maker Monbat said it had agreed on May 12 a deal to buy 60% of the Tunisian battery firm Nour for €10.3 million ($12.6 million).
The share purchase agreement provides Monbat with 720,000 voting shares, the company says, and will take place in two stages that will be complete by the end of the year.
Nour was founded in 1956 and claims to be the first Tunisian company to specialize in the production of batteries.
It distributes widely across North Africa and in 2015 opened a second production facility in the district of Zaghouan.
In 2018, Monbat shelved plans to buy another Tunisian battery maker, Assad.