Riyadh – Mubasher: The Saudi British Bank (SABB) on Thursday announced acquiring HSBC combined stakes in SABB Takaful after obtaining SABB ordinary general meeting (OGM), and the regulatory approvals'.

After completing the transaction, SABB will own a 65% stake of SABB Takaful’s capital, and the deal’s financial impact will appear in SABB's financial results of 2017.

The transaction is expected to enhance the collaboration between the two companies.