Dubai - Mubasher: Orient Insurance Co will submit an offer to acquire non-owned shares of Orient UNB Takaful, representing 16.09% of the company's shares.

Orient Insurance seeks to obtain necessary regulatory approvals to begin the acquisition process, according to a bourse filing on Wednesday.

The transaction is valued at AED 78.5 per share, which is the last purchase price by the Abu Dhabi Commercial Bank (ADCB).