Lepercq Multi-Asset Fund made an offer to acquire a 20% stake in Arab Insurance Group (B.S.C.) (BAX : ARIG) for $11.7 million on November 19, 2023. Under the terms, 22,001,000 shares will be acquired at $0.53 per share in cash. Offer will start from December 21, 2023 and will close on January 18, 2023.

Offer is subject to approval from offeror board, shareholders. Offer is approved by board. Offer is conditional upon regulatory and statutory approvals.

Trowers & Hamlins LLP, and Zu?bi & Partners, Attorneys & Legal Consultants Bahraini Partnership Company acted as legal advisor. Bahrain Financial Harbor Holding Co. acted as transfer agent, SICO BSCacted as financial advisor and transfer agent.