Finance

Tunisia: Catana Group increases interest in Haco to 50%, from 30%

Tuesday, 09 July 2019 17:12
Tunisia: Catana Group increases interest in Haco to 50%, from 30%

(Ecofin Agency) - French company Catana Group, which specializes in the design, construction and marketing of pleasure craft, announced it has acquired an additional 20% stake in Haco, a Tunisian firm operating in the same segment.

Catana, which already held 30% of Haco’s capital just increased its interest to 50% with the new acquisition. The amount of the operation was not unveiled but Boris Compagnon, Catana Group's sales manager, said the initiative will consolidate the French firm's development and improve its international expansion.

Euronext-listed Catana aims to increase its offer in Tunisia in the coming years. According to Slim Feriani, Minister of Industry, Small and Medium-sized Enterprises (SMEs), “there are currently 8 companies in the country that manufacture boats [...]”

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