Dubai Investments acquires 21.5% stake in National General Insurance

Represents 21.53% of NGI's share capital

  
Dubai Marina skyline,UAE. Image used for illustrative purpose.

Dubai Marina skyline,UAE. Image used for illustrative purpose.

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Dubai – Mubasher: Dubai Investments has purchased 32.3 million shares in National General Insurance Company (NGI) from Emirates NBD.

The transaction, valued at AED 3.27 per share, represents 21.53% of NGI's share capital, according to a bourse filing on Wednesday.

Following the execution of the direct deal, Dubai Investments' total ownership in NGI reached 29.99% of NGI's issued share capital.

Meanwhile, Emirates NBD Bank continues to hold 22.778 million shares in NGI, representing 15.19% of the issued share capital of NGI.

It is noteworthy to mention that the ordinary general meeting (OGM) of Dubai Investments approved to pay cash dividends, equivalent to 8% of the capital, for 2020.

Source: Mubasher

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