Acquisition of Sotuver by BA Glass B.V.
Introduction
On April 2, 2026, the Tunisian Stock Exchange (CMF) authorized BA Glass B.V., a Dutch company belonging to the Portuguese group BA Glass, to acquire 41% of the capital of the Société Tunisienne de Verreries (Sotuver), representing 16,204,636 shares.
Details of the Acquisition
The shares were sold by four shareholders, namely:
- Compagnie Financière d’Investissement (CFI)
- Tunisienne d’Assurance (Lloyd Tunisien)
- INDINVEST
- Lloyd Vie The sale price was set at 13.020 dinars per share. This acquisition was previously approved by the Ministry of Commerce on March 4, 2026.
Strategic Objectives
From a strategic perspective, BA Glass B.V. aims to partner with the Bayahi group to strengthen Sotuver's position as a regional reference in glass packaging production, with a development horizon covering Mediterranean and African markets.
Governance Changes
The composition of Sotuver's Board of Directors will be modified with the appointment of new members representing the acquiring company.
Implications of the Acquisition
This acquisition gives BA Glass B.V. majority control of Sotuver and obliges it, according to Article 6 of Law No. 94-117 of November 14, 1994, to launch a Public Tender Offer (OPA) for the remaining 23,049,839 shares, representing 59% of the capital, at a price of 13.390 dinars per share. The final terms of the offer will be specified later by the CMF and published in the official bulletin once the acquisition of the block of shares is finalized.
