Mandatory Takeover Bid on SOTUVER Open: B.A GLASS B.V. Offers 13.390 TND Per Share

The mandatory takeover bid on SOTUVER (Société Tunisienne de Verreries) has been open since August 5, 2026. The Dutch company B.A GLASS B.V. is offering to acquire 6,843,844 shares, representing 17.43% of the company’s share capital, at a price of 13.390 Tunisian dinars per share, excluding brokerage fees and commissions. Shareholders have until August 26, 2026, inclusive, to decide whether to tender their shares under the offer.

This mandatory bid follows B.A GLASS’s acquisition on April 16, 2026, of a block of 16,204,636 SOTUVER shares, representing 41.28% of the share capital. The transaction was approved by the Financial Market Council (CMF), which subsequently mandated B.A GLASS to launch a compulsory public takeover bid for the remaining shares it did not already hold.

B.A GLASS directly holds 16,205,315 shares, accounting for 41.28% of SOTUVER’s share capital. The company also indirectly holds a single share. Furthermore, it has declared that it is acting in concert with the BAYAHI Group, which also owns 16,205,315 shares, representing another 41.28% of the capital.

Individual and corporate shareholders belonging to the BAYAHI Group have formally stated in writing that they do not intend to sell their shares as part of this takeover bid. Consequently, the offer applies only to the shares held outside these affiliated holdings.

This new ownership structure stems from an agreement reached between B.A GLASS and the BAYAHI Group on December 16, 2025. At that time, both parties agreed to the transfer of a block of 16,204,636 shares, with the aim of maintaining an equal stake in SOTUVER’s share capital and ensuring management based on parity and joint control.