Tunisia: Al Baraka Bank makes mandatory offer for shares of El Amana Takaful

Source: Middle East Insurance Review | Aug 2023

The Financial Market Council (CMF) in Tunisia has launched a mandatory offer for the shares of El Amana Takaful.

This mandatory offer, launched by Al Baraka Bank of Tunisia together with Al Baraka SICAR, both control 48.92% of El Amana Takaful, targets the remaining shares, 51.08% of the takaful operator’s capital. The transaction is estimated at the value of TND15.5m ($5.1m). Launching the mandatory offer comes as part of the CMF rules and regulations and will be valid for 20 trading days starting 17 July until 15 August 2023.

El Amana Takaful, one of Tunisia’s three takaful operators, was established in 2013 by the Saudi financial group Dallah Al Baraka. M

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