Private Wealth Investment Holding Company agreed to acquire 15% stake in Allied Cooperative Insurance Group (SASE:8150) from Tharawat Holding Company for SAR 65.5 million on May 8, 2024. Under the terms, Private wealth Investment is acquiring entire share in the Allied Cooperative Insurance, representing 4,364,999 shares, which represents 15% of the capital of the Allied Cooperative Insurance Group, at a value of SAR 15 per share for a total deal amount of SAR 65,474,985.

After the transaction is completed, the following will result, Tharwaa Gulf Holding Company will not become the owner of any share or shares in Allied Cooperative Insurance Group and Private wealth Investment Holding Company becomes the owner of 15% of the shares of Allied Cooperative Insurance Group. The regulatory no-objections were obtained from the concerned authorities in this deal.