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Buyer sought for majority stake in Carthage Cement

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World Cement,

The Tunisian government and Bina Corp., controlling shareholders of Carthage Cement, are looking to sell a majority stake in the cement producer. Carthage Cement operates a 2.2 million tpy cement plant, southeast of Tunis, as well as two adjacent quarries.

The quarries cover a total area of 358 ha. The first quarry has an area of 218 ha. and is located on land owned by Carthage Cement. The second 140 ha. quarry is located on land that is leased from public property.

According to the Call for Expression of Interest, the sale of a 50.52% stake will take place via public tender to a strategic and/or financial investor, who is able to ensure its management and development. The sales process is to take place in two phases: a prequalification phase will be followed by a binding offer phase.

The deadline for expressing interest in acquiring the company is 16 February 2018. Prequalified candidates will then be informed of their qualification on 2 March 2018, following which they will be asked to submit their binding offers.

ECC MAZARS, IEG Tunisia, and Mrabet Avocets are acting as exclusive advisor for the sales process.

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Cement news 2018