(MENAFN) MB UAE Investment and Al Madina Takaful, two Oman-based companies, are set to acquire a combined 60.53 percent stake in National Takaful Company, popularly known as Watania, Times of Oman reported.
MB UAE Investments, a part of MB Holding Group, is going to acquire 51 percent stake, while Al Madina will have 9.53 percent stake in the UAE insurance firm.
According to a predicted estimate, the total investment of both firms is set to reach about USD15.82 million to acquire 90.8 million shares, with MB UAE investing USD13.33 million and Al Madina investing USD2.49 million.
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