Tunisia: insurance broker Upcar whets appetites
Three contenders face each other for the takeover of Belhassen Trabelsi’s shares. According to our information, two are Tunisian stakeholders in the insurance and finance sector; the third is a French broker.
24/03/2020 at 20h03, by Africa Business+
With a call for tenders launched on 3 March, three candidates have already declared themselves in favour of taking over 50% of Upcar‘s capital. The company, Tunisia’s leading insurance and reinsurance broker, was confiscated by the State from Belhassen Trabelsi, Ben Ali‘s former brother-in-law, in the aftermath of the revolution. The other half of the capital belongs to the Bouaziz couple. Mrs Emna Bouaziz, is the director and founder of the company. The call for expressions of interest for the buyout will close on 3 April.
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