Solidarity Bahrain has announced that the Central Bank of Bahrain (CBB) has granted its final approval for the acquisition of Bahrain National Insurance Company and Bahrain National Life Company for a total purchase price of BD75 million in cash.
The approval for BNL relates to the company’s direct acquisition of 100 per cent of its share capital, while the approval for BNI relates to the acquisition of 100pc of its share capital by the company’s majority shareholder, Solidarity Group Holding, in line with the transaction structure previously disclosed .
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