Finance

Carthage Cement reportedly denies bid from Burkinabe investors

Carthage Cement reportedly denies bid from Burkinabe investors
Tuesday, 18 January 2022 15:29

A consortium of Burkinabe investors made an offer last June to buy Tunisia’s Carthage Cement. They wanted to acquire 58.2% of the company. However, according to information reported by Ilboursa, Tunisian authorities have rejected the offer, which they considered "insufficient". No official source has yet confirmed this announcement.

As a reminder, media sources first reported that the offer of Boureima Ouédraogo and Société Internationale d'Investissement, a subsidiary of Burkinabe CIM Metal Group, was approved. But rating the value of this offer is quite difficult because, on the one hand, the currency in which it was made was not revealed. But also, between the time the bid was announced and now, the value of the Tunisian dinar has declined against the dollar. This should negatively impact the currency value of the offer if it was made in Tunisian currency.

The sale of Carthage Cement dates from late 2020 but the process has been postponed several times. While its stock market value has declined over the past 12 months, the company posted an increase of 60% in turnover at the end of H1 2021.

On the same topic
IMF approves reviews of Seychelles’ reform programs, unlocking $45 million Total disbursements since 2023 to reach about $105.1...
Cemac developing system to track informal cross-border trade data Regional workshop trains experts on mapping flows and estimating...
Nigerian insurers Guinea, Sovereign Trust seek 10.8bn naira capital Guinea launches rights issue; Sovereign Trust awaits NGX approval Raises aim meet...
Adenia Entrepreneurial Fund I (AEF) secures $180 million in its first close, exceeding its $150 million target. The fund targets...
Most Read
01

Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...

Telecel Ghana plans 150% investment increase in MTN-dominated market
02

CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...

Strengthening the Business Climate in WAEMU Countries: CCR-UEMOA Reviews Its Midterm Record
03

Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...

Togo Passes Law to Criminalize Counterfeiting of West African CFA Franc
04

BOAD plans 750 billion CFA francs financing for Burkina Faso Funds to support key sectors and Rel...

BOAD to Mobilize $1.3 Billion in Support of Burkina Faso 2026-2030 Development Plan
05

Yassir moves into media distribution in France with the acquisition of Paris-based adtech firm Kaw...

Algeria-based Yassir expands into media distribution in France with planned acquisition of Kawarizmi
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.