Banque Internationale Arabe de Tunisie Société anonyme (BVMT:BIAT) sent a letter of intent to acquire more than 50% stake in Tunisie Valeurs SA (BVMT:TVAL) on January 22, 2020. As per the letter of intent, BIAT will pay TND 18.150 per unit. Banque Internationale Arabe de Tunisie Société anonyme signed an agreement to acquire 50.5% stake in Tunisie Valeurs SA from Integra Partners, Slaheddine Caid Essebsi, Abderrazak Ben Ammar, Mohamed Slim Maaoui, Meriem Maaoui, and Latifa Ben Jaafar for TND 36.6 million on March 14, 2020. As per the agreement, BIAT will acquire 2 million shares at a price of TND 18.150 per unit. The acquisition remains subject to the signing of all contractual documentation and obtaining the regulatory authorizations in force. As of January 22, 2020, Board of Banque Internationale Arabe de Tunisie Société anonyme approved the proposed acquisition. As of March 14, 2020, CMF approved the transaction. The transaction is expected to close during first quarter of 2020.

Banque Internationale Arabe de Tunisie Société anonyme (BVMT:BIAT) completed the acquisition of 50.5% stake in Tunisie Valeurs SA (BVMT:TVAL) from Integra Partners, Slaheddine Caid Essebsi, Abderrazak Ben Ammar, Mohamed Slim Maaoui, Meriem Maaoui, and Latifa Ben Jaafar on March 26, 2020. Banque Internationale Arabe de Tunisie Société anonyme also acquired 1.9 million shares on stock market and now holds 98.39% stake in Tunisie Valeurs SA.