CI VIEW: Tunisia’s ElFouladh steel group M&A target for Tenaris, Danieli, Macegaglia, Bizerte MP UPDATE

WASHINGTON/BIZERTE (CI MENA) – (Updating on May 18 to add interview with The Abrraj Group Managing Partner Sev Vettivetpillai ) The Tunisian state-owned Societe Tunisiene de Siderugie ElFouladh steel group is a perfect takeover target for specialty steel groups such as Italian-Brazilian giant Tenaris (NYSE: TS); Milan-based Danieli (BIT:DAN); and the Mantova-based Marcegaglia Group, Tunisian Member of Parliament and the highest elected official of Bizerte Ali Belakhoua said.

[Tenaris Chairman and CEO Paolo Rocca speaks to Capitol Intelligence/BBN using CI Glass at SelectUSA Investment Summit in Washington, DC. June 20, 2016]

In an interview with Capitol Intelligence/CI MENA during the IMF World Bank Spring Meetings, Belakhoua said the Bizerte-based steel plant can be transformed into a specialty oil services steel company serving the needs Tunisian-based oil operators such as oil giants such as Italy’s ENI (NYSE:E) and Royal Dutch Shell (NYSE:RDS.A) and smaller players such as Woodlands, Texas-based Andarko Petroleum Corporation (NYSE: APC) and Austria’s OMV Group.

Ali Belakhoua is also a member of the Natural Resources Committee of the Tunisian Parliament.

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