Compagnie de Saint-Gobain has obtained a court injunction blocking the sale of Tunisian glass producer Societe Tunisienne de Verreries (Sotuver) to a rival bidder, a Sotuver spokeswoman told Agence Fr…
Compagnie de Saint-Gobain has obtained a court injunction blocking the sale of Tunisian glass producer Societe Tunisienne de Verreries (Sotuver) to a rival bidder, a Sotuver spokeswoman told Agence France-Presse. Sotuver announced at the end of September 2007 a deal to sell 65.7% of its capital to Moroccan group Sevam, having signed a preliminary agreement a month earlier with Saint-Gobain. According to online magazine Africain Manager, the Sevam bid was worth EUR 12 million more than the one from Saint-Gobain. The Sotuver spokesperson said the dispute now will be examined by an investment commission controlled by the Tunisian industry ministry.