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Characteristics and evolution operations of fusions- acquisitions in tunisia

 

Rania FERCHICHI
Saïd SOUAM

 

Abstract :

This article proposes a descriptive analysis of the mergers and acquisitions that took place in Tunisia during the period 1980-2009. We first provide a brief description of the evolution of the Tunisian economy and the way it could have imepacted the restructuring of the firms in this country. This phenomenon first appeared in the early 1980s. It accelerated in 1995 after the association agreement with the EU and its accession to the WTO. It clearly appears that the mergers and acquisitions have quasi exclusively a horizontal dimension with industrial orefiscal purposes, and involve local firms. These operations are more frequent in the industrial sector and are mainly localized in the Grand Tunis and the coastal regions. Finally, they seem to be a means at the disposal of the large Tunisian firms to acquire small and medium firms.

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