Summary of Proposed Investment
Project Number
8548
Company Name
Tuninvest International Ltd
Date SPI Disclosed
Feb 3, 1998
Country
Tunisia
Industry
other
Status
Completed
Sector
Private Equity/Venture Cap Fund - Country
Department
Equity Portfolio Management
Environmental Category
FI
Previous Events
Approved : Mar 25, 1998
Signed : Mar 25, 1998
Invested : Mar 31, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Tunisia: Tuninvest Private Equity Fund |
| Region | Central Asia, Middle East & North Africa |
| Sector |
Projected Board DateMarch 3, 1998
Company NameTuninvest Finance Group (TFG)
Technical Partner and/or Major Shareholders
The shareholders of the Company are: Mr. Ahmed Abdelkefi (25.5%), Key Executives of the Company (55.25%), Mr. Assaad Belgacem of Investcorp (4.25%), SIPAREX (15%).
SIPAREX, a French venture capital company, is the technical partner and the TUNINVEST Finance Group (TFG)the local sponsor.
Project Cost Including proposed IFC investment
Twin fund of US$25 million in total. IFC has been requested to invest US$2 million in the domestic tranche and US$3 million in the international tranche.
Location of project and Description of site
Tunis, Tunisia
Description of Company and Purpose of Project
The project consists of setting up an international fund for Tunisia (focusing on private equity investments) of US$25 to US$30 million of which TD 10 million (US$10 million equivalent) would be raised domestically. The fund would take a significant and, in some cases, a controlling interest in unlisted Tunisian companies. Because of local investors’ preferences and Tunisian regulations, the fund would be split between a domestic and an international tranche each having an independent legal structure.
Environmental Category and Issues
Financial Intermediary (FI).
| Date SPI sent to PIC | February 3, 1998 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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