ENBD sells entire stake in NGI
Emirates NBD Bank (P.J.S.C.) has confirmed the sale of 22,778,049 shares in National General Insurance Company P.J.S.C. (NGI) at a price of AED3.12 per share. This sale represents 15.19 percent of the Issue Shares of National General Insurance Company P.J.S.C, according to a bourse statement.
Following the sale, Emirates NBD Bank (P.J.S.C) no longer holds any shares in NGI and has fully divested its interest in the company.
Emirates NBD Capital was the Sole Financial Adviser on this divestment.
The aggregate ownership of Dubai Investments in NGI, following the execution of the Direct Deal, has reached a total of 45.18 percent of the issued share capital of NGI.
Dubai Investments had recently acquired 21.53 percent shares of NGI from Emirates NBD Bank PJSC in an earlier transaction.
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