Mubasher: Kuwait-based Future Generations Fund (FGF) announced taking over 51% stake in Al Raya United Insurance Brokerage Company.

FGF provides financing for the GCC companies which are specialised in technology and restructuring sector.

The Fund gave no further details about the value of the deal. 

The acquisition deal is in line with FGF's stragey which eyes buying the private firms and restructuring them, the fund said in a statement.