According to Emirates News Agency, the company stated earlier that the cost of the acquisition of the two companies amounted to 215 million dirhams, confirming that it obtained financing obligations from the UAE banks to finance the deal, And the absence of any participation in the deal from any relevant parties.
The deal is consistent with the company's business strategy for building a range and market share under fragmented market conditions, given the complementary nature of its business and that of Noor Takaful.
The company suggested that the financial benefits of the deal be realized and the financial impact of it appear during the third quarter of 2020.
The Emirates NBD Capital Limited was the sole financial advisor, while Baker Mackenzie Habib Al Mulla took over the role of legal advisor, and Deloitte acted as financial advisor And information technology, and Milliman Corporation acted as the actuarial advisor to the company.
(Amazon fun of knowledge)
