Kuwait – Mubasher: Bahrain Kuwaiti Insurance Company (BKIC) announced on Wednesday the conclusion of the unconditional mandatory cash offer to acquire 2.24 million shares or 3.59% of the total shares of Takaful International.

BKIC has deposited and kept the consideration at 95 fils per share ready for settlement for the number of shares surrendered, according to a bourse filing.

The offer settlement date will be on 29 June, on which the Bahrain Bourse (BHB) shall transfer the shares and update the shareholders’ record of Takaful International to reflect the change in ownership.

On 20 April, BKIC had announced its intention to purchase the remaining stake in Takaful International, representing 36.31% of the ordinary issued and paid-up shares.