IIB and its investors acquired an equity stake in ARTES; the exclusive distributor for RENAULT, NISSAN and DACIA automobiles in Tunisia.

Established in 1947 under the name "RENAULT TUNISIE" and renamed ARTES after being acquired by a private group in 1997, ARTES is a vibrant group of 4 companies (including its subsidiaries and affiliates) with an experienced management team and the largest distribution network in Tunisia. Leveraging on its huge brand appeal and customer attractiveness in Tunisia, RENAULT plans to expand its presence in the market through ARTES by launching newer and safer cars across all market segments (low-cost, mass market and luxury) in the years to come.

Given the growth prospects of the Tunisian economy in general and the automobile sector in particular, IIB's acquisition of the stake in ARTES enhances its portfolio and adds to the sectoral and geographic diversification of IIB's product offering to investors.