Social Insurance disposes of Saif Properties stake
The report covers a major acquisition deal involving Sayeef Real Estate Company in Bahrain. Sayeef Real Estate revealed details of a takeover process carried out by G fleet Fina Inc., which includes the purchase of a 16% stake in the company valued at 13.24 million Bahraini Dinars, at a premium of 48.8% over the stock's market price. The deal also involves the purchase of treasury shares amounting to 4.67% for 3.86 million Dinars, aiming to increase the bid’s ownership to more than 50% of voting rights and capital. The transaction will be discussed at an extraordinary general meeting in October, with the potential for additional share sales and share repurchases before the deal's completion, in order to strengthen control over the company and achieve strategic objectives for the investors.
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