Saudis leave SITS

January 11, 2021

In a “declaration of significant operations carried out by persons exercising managerial responsibilities and persons related to them”, the Tunisian Saudi Bank (TSB) has just sold almost three million shares of the Tunisian-Saudi real estate company (SITS).

These 2,964,963 shares will bring to this mixed bank, which does not make too much profit, almost seven million Tunisian dinars (6,997,312 MD).

The buyers, which were not clearly stated in the press release of the Stusid, or TSB, would be the company Partner Investment that would be the financial arm of Poulina.

In another press release, we learn that the latter finally acquired almost 4 million shares of SITS, for a total of more than 9.4 MD.

The sale of shares of the Stusid seems to indicate that the Saudis would have given the order to their banker to leave SITS, from whose board of directors they had previously been evicted.

Let us recall that TSB or ex-Stusid was a 19% shareholder of the SITS.



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