Gulf Tamin to acquire 10% stake in ARIG

Gulf Tamin has announced its intention to make a partial offer to acquire 10% of the share capital of Arab Insurance Group (ARIG). The transaction involves 22 001 000 common shares and will be paid in cash at 0.53 USD per share, as stated in a filing with the Bahrain Stock Exchange.

ARIG's Board of Directors was notified of Gulf Tamin's offer on 29 October 2023.

Gulf Tamin is a company incorporated in the Cayman Islands for the sole purpose of acquiring shares in ARIG. Its shareholders are Lepercq Multi-Asset Fund SICAV and Callaway Capital Management.

ARIG is a reinsurance company established in 1980 and licensed by the Central Bank of Bahrain, with a share capital of 220 000 000 USD.