A big deal for "National General Insurance" in the Dubai Financial Market
Dubai Investments Company announced that it had bought 32.3 million shares of National General Insurance Company from Emirates NBD.
The company said in a statement to the Dubai Financial Market, today, Wednesday, that this deal represents 21.53 percent of the capital of the National General Insurance Company.
It added that its total ownership in the National General Insurance Company, after implementing the direct deal, reached a total of 29.99 percent of the company's capital.
Emirates NBD said it sold 32.3 million shares in the National General Insurance Company at a price of 3.27 dirhams per share.
Following the sale, the bank added that it still owned 22.78 million shares in the National General Insurance Company, which represented 15.19 percent of the issued shares of the company.
He pointed out that Emirates NBD Capital was the financial advisor for the sale.
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