Al Karama Holding Announces Sale of 66% Stake in UPCR

Al Karama Holding has recently announced its intention to sell a 66% stake in the Union of Placement and Insurance and Reinsurance Consulting (UPCAR) through a call for tenders. The goal is to find an investor who will contribute to the development of this specialized insurance and reinsurance brokerage company, according to the Tunisian news agency TAP.

Details of the Sale

The stake to be sold includes 50% of public shares and 16% of private shares held by individuals. This call is open to all investors, Tunisian or foreign, whether they act alone as a physical or moral person or as part of a consortium led by a lead investor and comprising other investors.

Eligibility Criteria

It is important to note that insurance companies, as well as individuals or entities with capital links or direct interests with an insurance company, are not eligible for this operation, as specified by Al Karama Holding. Interested investors have until June 24, 2024, to submit their bid files.

About UPCR

UPCAR, created in July 1994, is a limited liability company with a capital of 250,000 DT, divided into 25,000 shares with a nominal value of 10 DT each. The company is recognized for its expertise in insurance and reinsurance consulting and brokerage, having successfully diversified its portfolio and maintained solid growth in its activity, according to information provided by Al Karama Holding.