Dubai Investments Company submitted an offer to acquire the entire National General Insurance Company in a deal valued at approximately 468 million dirhams ($127.43 million).
According to Arab Net, Dubai Investments, which owns 45.2% of Wataniya General Insurance shares, according to Refinitiv data, is offering to acquire all or part of the shares owned by Wataniya General Insurance shareholders at a price of 3.12 dirhams ($0.8495) per share.
The deal values the investors' stake of 55% of the company's shares at 256.48 million dirhams, according to Reuters calculations.
Dubai Investments said the offer period would be 15 working days, beginning on December 29.
