GAM changes hands

Crippled by its financial hardships, the Générale Assurance Mediterranéenne (GAM) is about to be a 100% acquired by a consortium of investors led by EMP Africa.

The Tunisian insurer CARTE is likely to be among the new shareholders with a stake of 35%. A capital increase of up to 1.3 billion DZD (19 235 757 USD), has also been announced while the top management team shall remain un-changed.