The Takaful House Company has entered into a legally binding share purchase agreement with the Noor Investment Group and Noor Bank to acquire the full capital of the Noor General Takaful and Noor Family Takaful companies, at a value of 215 million dirhams.
According to ArabiaNet, the company said, in a statement, that it had received binding financing obligations from UAE banks to finance the deal.
And I confirmed that there is no participation in the deal from any related parties.
Emirates NBD Capital Ltd. acted as the sole financial advisor, Baker Mackenzie Habib Al Mulla acted as legal advisor, and Deloitte acted as financial and IT consultant, Meanwhile, Milliman Corporation acted as the actuary's actuary.
She pointed out that the deal is in line with its strategy to build a range and market share under the fragmented market conditions, given the complementary nature of its business and the work of Nour Takaful.
