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Gulf Tamin, a consortium led by two US-based asset management firms, has acquired 13.85% of Bahrain-listed Arab Insurance Group.
The acquiring entity is headed by New York-based financial company Lepercq, de Neuflize & Co., the American investment arm of family-owned French bank Banque Schlumberger, and Callaway Capital Management, a US-based hedge fund.
Gulf Tamin is an entity incorporated in the Cayman Islands for the sole purpose of acquiring shares in ARIG, according to a Bahrain bourse document.
The company was advised by SICO BSC, a GCC investment bank, and legal advisors Trowers & Hamlins and Zu’bi and Partners.
(Writing by Cleofe Maceda; editing by Brinda Darasha)
