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Tunisia: State to sell its shares in BTE

The Bank of Tunisia and the Emirates (BTE) announced Monday, October 16, 2017, that the Commission for Adjustment and Restructuring of State Enterprises (CAREPP), at its meeting on August 11, 2017, authorized the sale of the shares of the Tunisian state in the capital of BTE.

This is as part of the sale of a single block of shares representing 77.78% (i.e. 100% of the voting rights), including the shareholding of the Abu Dhabi Investment Authority (ADIA), i.e. a share of 38.89% for each transferring shareholder. BTE will regularly inform the public of the progress of the sale.

As part of this transaction, the holders of non-voting priority dividend shares comprising the remainder of the capital of BTE and representing 22.22% of the capital may, under the conditions provided for by the regulations in force, offer their securities for sale, in accordance with the terms and conditions to be communicated to them in a timely manner.

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