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HomeNewsTunisia: SITS Takeover Bid costs Poulina Group 12 million dinars

Tunisia: SITS Takeover Bid costs Poulina Group 12 million dinars

The Public Takeover Bid on the shares of the Tunisian-Saudi Real Estate Company (SITS) at a unit price of 2.360 dinars was opened on Friday, December 18, 2020 and closed on Friday, January 8, 2021.

During the period of the Offer, the company PARTNER INVESTMENT, an investment company belonging to Poulina Group Holding said it has acquired 5,097,297 shares on the Stock Exchange.

It therefore holds in concert with the company FOUNDERS CAPITAL PARTNERS (also belonging to PGH) 11,819,578 shares, representing 75.8% of the capital of the company SITS.

To this end, the Mandatory Takeover Bid (MTO) on the shares of SITS has cost 12 million dinars to the Poulina Group.

PARTNER INVESTMENT, the initiator of this takeover bid, aims at acquiring 8,877,719 SITS shares representing 56.91% of the company’s capital.

On the opening date, the company PARTNER INVESTMENT held, in concert with the company FOUNDERS CAPITAL PARTNERS, 43.09% of the capital of the company SITS.

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