Talks on the acquisition of Tunisian glass maker Societe Tunisienne de Verreries (Sotuver) by French glass and construction materials group Saint Gobain were at an advanced stage as of 5 July 2007, th…
Talks on the acquisition of Tunisian glass maker Societe Tunisienne de Verreries (Sotuver) by French glass and construction materials group Saint Gobain were at an advanced stage as of 5 July 2007, the Tunisian media reported. Sotuver confirmed in a press release that negotiations with potential buyers were underway after local financial market regulator CMF invited it to comment on recent speculation concerning its future. Earlier, the local media reported that the Tunisian glass maker might be acquired by Moroccan Societe d“Exploitation de Verreries au Maroc (SEVAM). The Tunisian producer and exporter of glass products, which is listed on the Tunis stock exchange, recently experienced a fall in sales. Sotuver posted revenue of TND 15.6 million (USD 12.1/EUR 8.9 million) for 2006, down from TND 17.8 million (USD 13.8 million/EUR 10.1 million) a year earlier, it was reported on 2 February 2007.