The Financial Market Council (CMF) has officially authorized Kilani Holding to launch a Mandatory Public Offer (OPA) for the remaining shares of the Société Tunisienne d’Automobiles (STA), according to a statement recently issued.
Already holding 1,081,223 shares—representing 54.06% of STA’s capital—Kilani Holding now seeks to acquire the remaining 918,777 shares, which constitute the remaining 45.94%, at a price of 24.400 dinars per share.
This mandatory takeover follows an initial transaction approved by the CMF under Decision No. 12 dated April 24, 2025, which allowed Kilani Holding to acquire a controlling block of 1,024,861 shares, or 51.24% of STA’s capital.
Upon crossing this threshold, the CMF required the acquirer to submit a public offer for the outstanding shares, in line with current regulations.
The OPA is open from May 22 to June 20, 2025—a period during which minority shareholders of STA will have the opportunity to sell their shares under the terms set by the offer.
Launched in a context of strategic consolidation, the transaction is expected to allow Kilani Holding to gain full control of STA, a key player in Tunisia’s automotive sector, particularly known as the importer of the Chery brand.
It also represents a new milestone in the momentum of the Tunisian financial market, which is seeing increased capital restructuring activity in a tightening regulatory environment.
The CMF emphasized that all legal requirements have been met to ensure transparency and fairness in the operation, with full respect for the rights of minority shareholders.
What remains to be seen is whether those shareholders will seize the opportunity presented by this offer at the proposed price, in a Tunisian stock market undergoing profound transformation.
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