Orient Insurance PJSC (DFM:ORIENT) agreed to acquire 49% stake in Orient Takaful Insurance Company (S.A.E) and 20% stake in Orient UNB Takaful P.J.S.C. from Abu Dhabi Commercial Bank PJSC (ADX:ADCB) on November 2, 2020. Under the terms of consideration, ADCB will sell its stake in the Orient UNB Takaful in exchange for AED 77 million. The deal is subject to the necessary regulatory approvals and the deal is expected to be completed within a maximum period of six months.

This transaction will have negligible impact on ADCB's profitability. On March 16, 2021 Abu Dhabi Commercial Bank PJSC completed the sale of 49% stake in Orient Takaful Insurance Company (S.A.E).