Salvatore Cugliari, CEO of Royal Luxembourg, the Italian-Luxembourger financial holding company which has won a block of shares representing 13% stake in “Banque de Tunisie”, Wednesday, told Radio Express Fm his company is interested in another international tender launched by Tunisia involving a Tunisian airline which he did not reveal the name.
“The job of Royal Luxembourg is to buy companies that are experiencing difficulties due to the high cost of labor and to relocate to sites where production factors are more competitive (low wages),” he said, adding: “in the case of Tunisia, Royal Luxembourg has decided to invest in industry and financial holdings.
The company is planning to relocate in the country four to five companies operating in bus assembly, automotive components and recycling of waste. ”
He noted that Royal Luxembourg is still interested in acquiring part of the private operator Tunisiana which has been subject to an unsuccessful tender.
He defended the credibility of the company and noted that Luxembourg in which the Royal Luxembourg is based has changed and is far from being a tax haven.
