26 August 2014 Insurance
National Takaful to sell 60% stake
United Arab Emirates regulators have approved the sale of 60.53 percent of Abu Dhabi-listed insurer National Takaful Co (Watania) to MB UAE Investments and Al Madina Insurance Co.
In a filing, Watania said that MB UAE Investments would acquire 51 percent of the firm and Al Madina Insurance Co would acquire 9.53 percent. In total, 90.8 million shares would be purchased.
The expiry date for the purchase period is set at 24/02/2015.
