Watania
WATANIA
-1.00%
0.89
-0.01
WATANIA
Al Madina Takaful
AMAT
0.00%
0.08
0.00
AMAT
The Abu Dhabi-listed National Takaful Co. (Watania) announced the completion of a deal, whereby MB UAE Investments, an MB Holding subsidiary, and Oman’s Al Madina Insurance Company have bought 61.118% of Watania’s stocks.
The Securities and Commodities Authority (SCA) had approved, at the end of August 2014, MB UAE’s offer to purchase 90.8 million shares amounting to 61.11% of Watania’s capital, according to the statement made to the Abu Dhabi Securities Exchange (ADX).
MB UAE has acquired 51% of the Company’s stocks after buying 76.500 million shares, while Al Madina Insurance acquired 9.53% amounting to 14.3 million shares in Watania for AED 17.88 million, at a par value of AED 1.25 per share.
The Securities and Commodities Authority (SCA) had approved, at the end of August 2014, MB UAE’s offer to purchase 90.8 million shares amounting to 61.11% of Watania’s capital, according to the statement made to the Abu Dhabi Securities Exchange (ADX).
MB UAE has acquired 51% of the Company’s stocks after buying 76.500 million shares, while Al Madina Insurance acquired 9.53% amounting to 14.3 million shares in Watania for AED 17.88 million, at a par value of AED 1.25 per share.
Source:
Mubasher