The European broker Diot-Siaci has signed a strategic alliance agreement with Nasco Insurance Group, an insurance and reinsurance brokerage specialist in the Middle East and Africa.
Through this partnership, Diot-Siaci intends to acquire a stake in Nasco's capital and thus take part in the group's current operations in the countries of the Gulf Cooperation Council (GCC).
This alliance will allow both companies to consolidate their position in the Middle East.
Once the acquisition is finalized, Nasco CEO Gino Nader will retain a majority stake in the company. The company's management will remain the same.
Pending regulatory approval, the transaction is expected to be finalized in mid-2024.
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