Lepercq Multi-Asset Fund managed by Lepercq de Neuflize & Co and Callaway Capital Management, LLC made an offer to acquire a 10% stake in Arab Insurance Group (B.S.C.) (BAX : ARIG) from Emirates Investment Authority 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.

Lepercq Multi-Asset Fund managed by Lepercq de Neuflize & Co and Callaway Capital Management, LLC completed the acquisition of 13.85% stake in Arab Insurance Group (B.S.C.) (BAX : ARIG) from Emirates Investment Authority for $16.1 million on March 13, 2024.