22 July 2008 - Gide Loyrette Nouel Paris and Tunis, legal counsel to Groupama in connection with the privatisation of STAR:

Gide Loyrette Nouel Paris and Tunis advised Groupama in connection with the privatisation of STAR (Société Tunisienne d'Assurances et de Réassurances). Following a competitive international tendering procedure, Groupama was selected as the preliminary candidate on 15 July 2008 by the Tunisian Government to become its strategic partner in a reserved increase in the share capital of STAR, following which Groupama will own a 35% stake in the company’s capital and voting rights. 

STAR, which is currently 60% state-owned (directly or through other equity interests), is listed on the Tunisian stock exchange. STAR is the Tunisian insurance market leader, occupying first position in damage insurance with a 29% market share and ninth position in the life assurance with a 5% market share. In 2007, the company realised a turnover of 121.3 million euros and a net income of 3.4 million euros. It employs a staff of 660 people.    

Legal counsel to Groupama:
Gide Loyrette Nouel (Christophe Eck, Jean-Gabriel Flandrois and Edgard Nguyen in Paris, with the assistance of Jean-Marie Guéguen on insurance law issues, and Imed Tanazefti and Badis Jedidi in Tunis).