20 April 2009

Tunisia: 'Princesse Groupe' Acquires 70 Percent of 'Dar Assabah' Capital

Tunis — Mr Mohamed Fahd Sakher El Materi, the president of "Princesse Groupe" has acquired a 70 % majority share in the capital of "Dar Assabah", a Tunisian press, printing, publishing, distribution and advertising company.

The deal was made as part of two shareholdings put on sale by a segment of shareholders. The holders of the remaining segment expressed the wish to sell in similar terms; the deal is currently being finalized.

Following the deal, Mr Mohamed Fahd Sakher El Materi said that his conception of the journal's independence will "remain for us an inspiration for the present and in the future".

He also said that "at a time when throughout the world, the press, are forced to merge to survive, I am here to give the group Assabah- Le Temps, the means of its ambitions. "

Mr El Materi added that his goal was to contribute to the quest for the truth and to contribute to the democratic climate in our country. He stressed that his aim was to contribute to the Tunisian pluralistic media landscape with a stronger "Assabah-Le Temps Group, keen on innovation, more open to youth and more focused on issues of our time".

He also paid tribute to the group's staff and journalists vowing to improve their living and working conditions, "the latter being the guarantors of further professionalism and excellence", he said.

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