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Tuesday 22 June 2021
HomeNewsTunisia-Official: Al Karama Sells Zitouna Bank and Takaful

Tunisia-Official: Al Karama Sells Zitouna Bank and Takaful

The Tunisian State, Al Karama Holding and the Portfolio Invest Company, the majority shareholders of Zitouna Bank and Zitouna Takaful have decided to proceed with the sale of a single block of shares representing 69.15% of the capital of Zitouna Bank and 70% of Zitouna Takaful by international call for tenders to a strategic investor who will have the ability to manage and develop them.

The Consortium led by Finactu International and including BDO Tunisia, Auxilium Consulting and the law firm Adly Bellagha & Associés has been retained by Al Karama as exclusive consultant to assist in the realization of the sale transaction.

The assignment process includes a pre-qualification phase of the candidates, followed by a financial offers phase open to all pre-qualified candidates.

In the pre-qualification phase, the investor of Tunisian or foreign nationality wishing to participate in this process must be a legal person or a consortium, headed by a leader who must be a legal person and be composed of legal persons or legal and natural persons.

Interested investors are invited to pick up the forms from Wednesday April 4, 2018 at 10:00 at Al Karama Holding headquarters.

Pre-qualified candidates will be notified no later than Monday, June 11, 2018 and may then pick up a tender dossier.

Zitouna Bank is a bank created in October 2009 and licensed to practice Islamic banking in accordance with the regulations in force.

The bank has a network of 114 branches spread throughout the Tunisian territory.

Zitouna Takaful is the first insurance company in Tunisia operating according to the Takaful model.

It has a network of 48 branches and branches spread throughout the country.

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