Solicitors governing body: Ordre National des Avocats de Tunisie
Competition authority: Conseil de la Concurrence Tunisie
Financial regulator: Conseil du Marché Financier
IFLR1000 ranking categories in this jurisdiction:
Tunisia is a former French protectorate that shares close cultural and economic links to the country. The French language is still spoken by an estimated 63% of the population, and is an important part of the professional domain. The country is part of the Maghreb region and as such also maintains strong bonds with the markets of Algeria and Morocco.
The legal system is a combination of French civil code and Islamic law.
Practicing law is restricted to Tunisian nationals, and foreign firms are unable to practice in Tunisia without working in conjunction with local lawyers. As a result of this, the market is still dominated by domestic firms, but international outfits are present: Global Lawyers North Africa work closely with French firm Gide Loyrette Nouel, and Dakhlaoui is associated with Bird & Bird. King & Spalding and CMS Bureau Francis Lefebvre are also active in Tunisia, but work is managed by their French and Algerian offices respectively.
Adly Bellagha & Associés is active in banking, capital markets, and project development.
In banking, the firm represented PK Airfinance as security trustee and Eider Finance as borrower in a refinancing to extend the lease on an aircraft.
In capital markets, the firm has extensively worked on privatizations. During the research period it was mandated on the privatization of a state owned Islamic micro-credit institution, an Islamic insurance company, and of Zitouna Bank.
"Excellent in-country connections and understanding of our interests as international investors from a different language and legal system." – M&A
"Very professional in meeting deadlines, good quality service and knowledgeable." – Banking and finance
Global Lawyers North Africa in partnership with Gide Loyrette Nouel is the joint operation of French firm Gide a domestic firm. The firm works across M&A, banking, and capital markets
A deal highlight in M&A was representing ABB on its acquisition of a branch of GE. In terms of capital markets, the firm represented several Italian banks, such as Unicredit, and MPS Capital Services on the drafting and negotiating of a pledge over shares held by Colacem in Les Ciments Artificiels Tunisiens.
Other notable clients of the firm include Generali, Owliance SAS, and GFI.
Kammoun & Kallel is active in M&A, capital markets, and banking. It is the Tunisian member of the Worldwide Lawyers Association.
The firm has gained experience in Islamic finance, advising its client Islamic Corporation for the Development of the Private Sector on the set up of Wifack International Bank as an Islamic bank. In M&A, Kammoun & Kallel advised U-Power Group on the merger of Martek, Evoproject and Locatif, working on the due diligence, drafting, and negotiation of transaction documents.
"I really appreciate the firm's experience in the Tunisian law framework." – Banking and finance
"Reactive and professional." – Competition, M&A, private equity, and project development