Following the opening of bids relating to the international call for tenders launched by Al Karama Holding for the sale of 69.15% of the capital of Zitouna Bank and 70% of the capital of Zitouna TAKAFUL, it is the Majda Tunisia, a Tunisian subsidiary of the Qatari Majda Group that won the deal for 370 million dinars.
Only two investors submitted a financial offer among the seven prequalified. They are the company Majda Tunisia and the Consortium composed of Crédit Immobilier and Hotelier “CIH BANK” (Morocco) – Qatar International Islamic Bank “QIIB” (Qatar) – Caisse de Dépôt et Gestion “CDG” (Morocco), ilboursa reported.
In July 2018, the Islamic Development Bank (IsDB) sold its entire stake in Zitouna Bank to the Triki Group.
The transaction involved 20.9% of the capital of Zitouna Bank at a price of 4.100 dinars per share. The transaction cost the Triki Group a whopping 102.8 million dinars.
