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Genero Capital sells 60.5% of Watania to Omani firm

Genero Capital sells 60.5% of Watania to Omani firm
Watania
WATANIA
-1.00% 0.89 -0.01
Investment Dubai-based Genero Capital has succeeded in selling a majority stake in National Takaful Co. (Watania), listed on the Abu Dhabi Securities Exchange (ADX).

Licensed by the Securities and Commodities Authority (SCA), Genero has acted as an exclusive financial advisor and representative for six local and Gulf institutions in the sale of 60.53% of Watania’s capital.

Genero said it recommended three strategic buyers from the Gulf Cooperation Council (GCC) to buy the stake. In the end, a Omani group made the final acquisition at AED 113.5 million ($31 million).