Yellow Spirit sal (Holding) of Pikasso and Lawhat Tunisie sarl have acquired 66.36% of MIP (Maghreb International Publicité), the number one company in outdoor advertising in Tunisia and number three in Mali.
A take-over bid under the control of the Financial Market Council (FMC) will be announced in the weeks to come regarding the remaining shares.
MIP was founded in 2004 and is the number one company in Out-of-Home advertising in Tunisia, with an inventory of 1200 faces of 10m2, Unipoles and large formats in 54 cities, providing nationwide coverage, in addition to 1500 bus shelters in the Greater Tunis area.
In Mali, MIP is present in 6 cities, with an inventory of 200 faces.
Antonio Vincenti, Chairman and CEO of Yellow Spirit sal (Holding) / Pikasso said: “The acquisition of MIP strengthens our leadership in North Africa. It is the perfect platform for rolling out our quality expertise, which we will gladly provide to agencies and advertisers in Tunisia and Mali.
Furthermore, we would like to actively contribute to the development of Out-of-Home advertising in these two markets, by introducing the latest innovations in our sector”.
Maher Ben Salem, the new GM of MIP, announced: “Our first mission will be to focus on the business of outdoor advertising and to restructure all activities and related companies.
In summing up the strengths of MIP and Lawhat Tunisie, not only will we have the largest coverage and the highest diversity of choices, but we will also be undisputed forward-looking market leaders.”