Business Law

Mergers & Acquisitions in Tunisia

Whether you are buying, selling, merging or taking a stake: secure every stage of your deal with legal counsel tailored to your objectives. We advise companies, investors, international groups and shareholders on M&A transactions in Tunisia. From deal structuring and legal due diligence through document negotiation to closing, we help identify risks, secure commitments and bring the transaction to completion.

M&A in Tunisia: an evolving market

Growing investment and corporate combination activity is creating new opportunities for both international investors and Tunisian groups. According to the Tunisia Investment Authority (TIA):

TND 8.356bn

declared investment in Tunisia in 2025

+39.3%

year-on-year increase vs 2024

Our M&A support

Every M&A transaction pursues different goals. Our support is tailored to the structure of the deal, the parties involved and the sector concerned.

We turn legal issues into practical solutions so our clients can decide and negotiate with greater clarity.

✓Acquisition and disposal of companies
✓Minority or majority stake purchases
✓Mergers and restructurings
✓Joint ventures and strategic partnerships
✓Acquisitions by foreign investors
✓Legal due diligence
✓Negotiation of acquisition agreements
✓Representations and warranties (asset & liability)
✓Shareholders' agreements
✓Closing and post-acquisition steps

Acquiring a company in Tunisia: securing the deal from day one

A successful acquisition starts long before signing. We assist clients with target analysis, transaction structuring and identification of key legal risks.

Due diligence findings can then be reflected directly in price, warranties, conditions precedent and the acquisition documentation.

✓Ownership and capital structure
✓Articles of association and shareholder rights
✓Material contracts
✓Assets and property rights
✓Employment relationships
✓Litigation
✓Administrative authorisations
✓Existing commitments and guarantees
✓Potential change-of-control restrictions

Legal framework for M&A in Tunisia

M&A in Tunisia may involve several layers of regulation. The Commercial Companies Code is the core framework for mergers, demergers and other operations affecting corporate structure.

Transactions involving an international investor require specific analysis of investment structure, applicable approvals and financial flows linked to the deal.

✓Foreign investment and shareholding rules
✓Competition law
✓Foreign exchange regulations
✓Capital markets (listed companies)
✓Sector-specific authorisations

Market momentum and structuring issues

This momentum goes hand in hand with stake-building, acquisitions and consolidation across many sectors of the Tunisian economy.

For investors, a critical question is how to structure and legally secure a transaction in the Tunisian context—where specialised M&A counsel adds decisive value.

Your acquisition or disposal project in Tunisia

Planning to acquire a company, sell your business or bring in an investor? We support you through structuring, due diligence, negotiation and completion of your M&A transaction in Tunisia.

Speak with our M&A team for a confidential discussion about your project.

Frequently asked questions

What legal steps are needed to acquire a company in Tunisia?+

Structuring, due diligence, SPA/warranty negotiation, conditions precedent, any approvals, then closing and post-deal support.

Do you act for foreign buyers?+

Yes—covering foreign investment, FX rules, competition and sector authorisations linked to the deal.

Talk to our M&A team

Acquisition, disposal or investment? Tell us about your project.