Societe Magasin General S.A. (BVMT:MAG) agreed to acquire 80% stake of Founashop on December 20, 2018. As the result of the transaction, Societe Magasin General S.A. holds 80% stake and Karim Skik holds remaining 20% stake in Founashop. Karim Skik, Sonia and Amina Skik, founders of Founashop since 2012, will continue to manage the company which will keep its identity. Founashop reported revenues of TND 2.7 million in 2017. The transaction is subject to the approval of Trade Ministry.