Al Karama Holding, acting on behalf of the Tunisian State, plans to sell its entire 50% stake in the Union de Placement et de Conseil en Assurance et Réassurance, Upcar Assurances.
The cession operation is launched through a call for interest and runs from March 3 to April 3, 2020. The transaction includes two phases: the first being the pre-selection of potential investors while the second is devoted to the financial offers of the pre-selected investors. Capital African Partners Bank (CAP Bank) has been chosen by Al Karama Holding as the exclusive advisor for the completion of this cession.
Upcar Assurance is an insurance and reinsurance brokerage firm established in 1994. It is endowed with a capital worth 250 000 TND (87 503 USD) divided into 25 000 shares.
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