PHOTO
Qatar's traders look at share prices on an electronic display at the Doha Stock Exchange in Doha, Qatar January 8, 2020. REUTERS. Naseem Zeitoon
Qatar’s Al Khaleej Takaful Insurance Company will sell its 25% equity stake in Bahrain National Life (BNL) for 3 million dinars ($7.9 million), according to a filing on the Qatar Stock Exchange.
The agreement is subject to necessary approvals by the relevant regulatory and supervisory bodies.
In 2008, Al Khaleej Takaful had purchased a stake in the Bahrain-based insurance company for 21,454,000 Qatari riyals. BNL is a subsidiary of the Bahrain National Holding Company (BNH), listed on the Bahrain Bourse.
In a filing, BNH said the transaction is expected to have a positive impact for the company.
(Writing by Bindu Rai, editing by Daniel Luiz)
