Gide, counsel to group BPCE on the divestment by BPCE International of its 60% stake in the share capital of Banque Tuniso-Koweïtienne (BTK)
5 October 2021
Deals | Africa | Corporate/M&A
Gide has advised group BPCE on the divestment by BPCE International of its 60% stake in the share capital of Banque Tuniso-Koweïtienne (BTK), sold to Tunisian family group Elloumi, the main industrial group and exporter in Tunisia. The sale was completed on 27 August 2021.
Gide's team was headed by partners Antoine Lelong and Julien David, working with associates Eya Ennaifer and Abel Colomb on M&A and corporate aspects; partner Nicolas Jean and associates Perrine Delandre and Constance Émié-Bennet on financing aspects; and Anis Jabnoun, partner in charge of GLN-A in Tunis, on aspects of Tunisian law. The team also drew on the expertise of Banking & Finance partner Olivier Bernardi in Paris, and competition partner Ségolène Pelsy in Brussels.
The buyer was assisted by Dakhlaoui & Partners.
The sale of BTK follows that of other majority stakes owned by BPCE International in Africa, sold in 2019 to Moroccan group BCP (Banque Centrale Populaire), and in which Gide had also assisted BPCE, i.e.:
in Cameroon: sale of a 68.5% stake in Banque Internationale du Cameroun pour l’Épargne et le Crédit (BICEC);
in Madagascar: sale of a 71% stake in Banque Malgache de l’Océan Indien (BMOI);
in the Republic of the Congo: sale of its 100% ownership of Banque Commerciale Internationale (BCI).