UAE bank acquires $200m equity stake in Tunisia's Artes
2008-04-03
A globally-focused bank based in Bahrain announced on Tuesday (April 1st) its acquisition of a $200m equity stake in Tunisian company Artes, the exclusive distributor for Renault, Nissan and Dacia automobiles in Tunisia. The International Investment Bank said the deal would allow it to benefit from Tunisia's fast growing economy and qualified workforce. The bank said other UAE investors were interested in Tunisia's real estate, telecom and petrochemical sectors. The bank is reportedly considering purchasing land in Tunisia for a large real estate project.
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