On the opportunity of selling Carthage Cement for the second time
After the failure in 2018 of the first call for expressions of interest for the sale of Carthage Cement, Adel Grar, Chairman of Al-Karama Holding, which manages the sale of companies seized after the country’s revolution, has launched a second call for expressions of interest, running from 2 June through 25 September, for the sale of a 58.2% – potentially going up to 78% – interest in Tunisia’s leading cement sector player.
04/06/2020 at 18h35, by Africa Business+
The timing comes as a surprise to analysts, as the Covid-19 pandemic has made investors very skittish and forced Carthage Cement to halt production and sales from 20 March until 19 April. Before the crisis, Al-Karama had done everything in its power to enhance the attractiveness of Carthage Cement, a company crippled with €133m in debt as at 31 March, including increasing its capital by 150% and convincing Tunisian creditor banks to invest €26m in the cement player.
Recommended articles
Air transport
14/02/2023 at 19h16, by Africa Business+
France’s Avico to buy the Tunisian state’s shares in Nouvelair
According to Africa Business+ sources, Avico, the French airline broker, intends to become a shareholder...
Industry
03/02/2022 at 15h05, by Africa Business+
CEO Adel Grar: “No sale of Carthage Cement before 2023”
Adel Grar, CEO of the al-Karama holding, which manages companies confiscated after the revolution, revealed...
News
07/09/2021 at 15h39, by Africa Business+
Ladji Boureima Ouedraogo takeover of Carthage Cement blocked
The project to sell the cement company to the Burkinabe businessman is a casualty of Kaïs Saïed’s power...
Construction & Infrastructure
05/07/2021 at 15h52, by Africa Business+
Tunisia likely to reject Ladji Boureima Ouedraogo’s €73 million bid for Carthage Cement
According to Jeune Afrique Business+ sources, the government is likely to reject the offer from Burkinabe...
Industry
23/06/2021 at 16h36, by Africa Business+
Burkinabe Ladji Boureima Ouedraogo €73 million below-market bid for Carthage Cement
According Jeune Afrique Business+ sources, Burkinabe entrepreneur Ladji Boureima Ouedreogo and his partner...
Construction & Infrastructure
27/01/2020 at 13h25, by Africa Business+
Adel Grar looking for nearly $80m for Carthage Cement to improve prospects for its long-awaited sale
As reported earlier in Jeune Afrique Business+, Tunisia’s leading cement company, Carthage Cement, is...