Bupa Investments Overseas Limited agreed to acquire an additional 4% stake in Bupa Arabia for Cooperative Insurance Company (SASE:8210) from Modern Computer Programs Company limited for approximately SAR 500 million on June 10, 2020. Under the terms of the transaction, Bupa Investments Overseas Limited will pay SAR 105 per share of Bupa Arabia for Cooperative Insurance Company and increase its stake from 39.25% to 43.25%. Following the conclusion of the transaction, Nazer Group will continue as a shareholder in Bupa Arabia. Loay Nazer intends to continue as the Chairman of the Bupa Arabia Board, and Tal Nazer as Chief Executive Officer. The transaction involves a number of regulatory approvals, including approval from the Saudi Arabian Monetary Authority, the Capital Markets Authority, the Ministry of Investment and the General Authority for Competition. Greenhill & Co. International LLP acted as financial advisor to Bupa Investments Overseas Limited.