Tunisia: International tender for the sale of a block of shares in Tunisiana SA

The Tunisian Ministry of Finance has published the international tender for the sale of a block of shares in Tunisiana SA. 

Subject of tender: The Tunisian State (the "State"), directly and indirectly holds 25% stake in the company Tunisiana ("Tunisiana" or the "Company"), has decided to carry on international tender, transfer into a single block of shares (the "Equity Stake")its participation in the Company to an investor (the "Investor" or all "Investors").

Key considerations: Since 2002, Tunisiana launch on the market of mobile telephony of 2sd -generation, market share and the number of its subscribers have been increasing, following the same trend as the penetration rate market. At end-March 2012, the number of subscribers of Tunisiana reached nearly 7,000,000 against 5,000,000 subscribers at the end of 2009.

The market share of Tunisiana, the end of March 2012 is 54.4%.

In January 2011, Orascom Telecom Holding has sold its entire stake representing 50% stake in Orascom Telecom Tunisia. QTel, through its subsidiary Wataniya Ksc bought 25% and Zitouna Telecom Ltd acquired the remaining 25%.

Tunisiana has become, from September 2011, shareholder-manager of ISP Tunet by acquiring 49% stake with an option to purchase the remaining 51%. This acquisition enabled Tunisiana to enter the fixed broadband internet services and expand its business into new services like its competitors.

In May 2012, after a process of international tender launched by the Tunisian government for granting a license to install and operate a public telecommunications network and 3G fixed, Tunisiana gets its own fixed and 3G license making it a global operator.

Currently, the company Tunisiana is owned 75% of its capital directly and indirectly by Qatar Telecom (QTel or QSC). The remaining capital representing 25% is held by the company Zitouna Telecom.

The Tunisian Ministry of Finance has published the international tender for the sale of a block of shares in Tunisiana SA


Eligibility: Prospective Investors may act alone or by forming a consortium led by a leader with other investors. Investors (or each of them) can not be operators of telecommunications networks or shareholders in a telecommunications network operator in Tunisia. The State reserves the right at any time during the process, not to select one or more investors to participate in the transfer of Equity Stake in case of failure by the / Investors interested in current regulations or public policy rules.

Participation in tender: Investors interested in participating in the transfer process in the Bloc Actions must register first. To register, the Investors shall submit, Adviser whose details are at the end of this notice, by fax or e-mail, presentation sheet (the "Presentation Sheet") completed (depending on model downloaded from the following website: Bat ).

Investors will be invited to: (i)Sign the confidentiality agreement (the "Confidentiality Agreement")to remove the Advisor whose details are at the end of this notice. (Ii)Pay the registration fee, non refundable, amounting to ten thousand (10,000) dinars or six thousand five hundred (6,500) or U.S. $ five thousand (5,000) euros.

After completing the formalities (i)and (ii),Investors will then be invited to withdraw the Tender Dossier (the "Tender Dossier")including, inter alia, (i) the Information Memorandum with a detailed presentation of the Company, its socio-economic and sector in which it operates and (ii) Regulation of the tender including a project an assignment.

Registration fees are payable by certified check or wire transfer payable to the Treasurer General of Tunisia to the account of the General Treasury of Tunisia opened at the Central Bank of Tunisia as No. 000380004050000000-40.

No registrations will be accepted beginning on September 14, 2012 at 16:00 pm local time.

Withdrawal of Tender Dossier : Investors registered are invited to withdraw the Tender Dossier from 27 July 2012 during business hours at the following address: Bank of Affairs of Tunisia - 10a Rue Mahmoud El Materi, Mutuelleville, 1002 Tunis, Tunisia.

Works Due Diligence: After withdrawal of the Tender Dossier, the Investors registered will be able to conduct due diligence work as part of an electronic data room available between August 6, 2012 and September 14, 2012 according a timetable and arrangements (Regulation of the data room and list of documents available) that will be announced later at their request.

The closing of the sale is scheduled for November 2012.

Contacts and information: The Business Bank of Tunisia (the "Bat" or the "Advisor") has been retained as exclusive advisor to the Ministry of Finance (the "Department") for the completion of the Transaction. Any request of the Tender Dossier and the Confidentiality Agreement should be addressed to: Attn. Mr. Thameur Chagour / Mr Anis Mnejja - 10 bis, Rue Mahmoud El Materi, Mutuelleville, 1002 Tunis, Tunisia Tel.: +216 71 143 804 / +216 71 143 814 Fax: 216 71891678.

The original text is french language. If you need assistance or know more about business opportunity in Tunisia and North Africa please send your inquiry with contact us form and our representative will contact you back in 48 hours.

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