Tunisia's largest conglomerate, Poulina Group Holding, has attracted investment from a private equity fund set up by the Canadian government.
The C$500m ($478m) Canada Investment Fund for Africa has bought a portion of the 5 per cent stake that Poulina offered to international investors in its flotation on 19 August.
The fund, which is managed by UK private equity group Actis and the US group Cordiant, did not disclose the size of its stake.
Poulina has a market capitalisation of some $745m. Just 10 per cent of the company is listed on the Bourse de Tunis.
The group operates in the building materials, packaging and retail sectors.
Abdelwahab Ben Ayed, chief executive officer of Poulina, says: "We are very happy to welcome Actis as our largest international shareholder. We look forward to working with them as we develop the structure and reach of the group."
You might also like...
Client cancels metro extension tenders
02 July 2020
Luxembourg proceeds with Expo 2020 construction
02 July 2020
Saudi Aramco tenders Berri field upgrade
02 July 2020
Chinese robotics firm partners with Expo 2020
02 July 2020
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
