Gulf Tamin to acquire 10% stake in ARIG
Gulf Tamin has announced its intention to make a partial offer to acquire 10% of the share capital of Arab Insurance Group (ARIG). The transaction involves 22 001 000 common shares and will be paid in cash at 0.53 USD per share, as stated in a filing with the Bahrain Stock Exchange.
ARIG's Board of Directors was notified of Gulf Tamin's offer on 29 October 2023.
Gulf Tamin is a company incorporated in the Cayman Islands for the sole purpose of acquiring shares in ARIG. Its shareholders are Lepercq Multi-Asset Fund SICAV and Callaway Capital Management.
ARIG is a reinsurance company established in 1980 and licensed by the Central Bank of Bahrain, with a share capital of 220 000 000 USD.
Read also | ARIG ceases operations and seeks buyer
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Wed, 01/11/2023 - 14:25
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