Financial Market Council (CMF) Receives Acquisition Request for Tunisian Automobiles (STA)
The Financial Market Council (CMF) has informed the shareholders of Tunisian Automobiles (STA) and all market participants that it has received a request for authorization to acquire a majority controlling block of 1,024,861 STA shares (representing 51.243% of the company's capital) at a price of 24,400 TND per share.
The operation is subject to a transfer agreement signed on April 18, 2025, between:
- Sellers: Nouri Chaabane in his own name and as representative of the Maghreb Real Estate Consortium, Hôtel Palace Company, Seifeddine Chaabane, and Nedra Chaabane;
- Buyer: Kilani Holding.
The CMF's decision regarding this request will be announced later. Trading of STA shares will be suspended on the stock exchange on Monday, April 21, 2025.
What matters here is the interest of minority shareholders. Compared to the market price, there is a premium of 8.9%. Since the beginning of the year, the stock has gained 6.86%, which would be a good deal for investors.
We believe that a mandatory takeover bid (OPA) will be imposed by the CMF. At this price, the buyer values the dealership at 48,800 MTND. This is the second time Kilani Group has attempted to acquire a listed company, after Adwya. The holding company continues its diversification, and this operation would be highly beneficial, as it improves its treasury management and opens the door to a lucrative business.
