An unknown buyer agreed to acquire 20% stake in Wataniya Insurance Company from The Saudi British Bank for SAR 80 million.

An unknown buyer agreed to acquire 20% stake in Wataniya Insurance Company (SASE:8300) from The Saudi British Bank (SASE:1060) for SAR 80 million on December 22, 2021. The bank will sell 4 million ordinary shares, representing 20% of Wataniya's share capital. The bank will use the transaction's proceeds for general corporate purposes.

Transaction is not expected to result in a material impact on the bank or its operations.