Wissam Haddad and Daniel Freifeld
Gulf Tamin acquires 13.85% stake in Bahrain-listed ARIG
MANAMA, March 13, 2024
Gulf Tamin, a consortium led by Lepercq, de Neuflize & Co, a New York based financial company, and Callaway Capital Management, a US based hedge fund, today acquired 13.85% of Arab Insurance Group (ARIG).
Gulf Tamin was advised by SICO, a leading GCC investment bank, and legal advisors Trowers & Hamlins and Zu’bi and Partners.
Wissam Haddad, Head of Investment Banking and Real Estate at SICO, said: “We are delighted to be working closely with Gulf Tamin and their international shareholders and to have now successfully completed their purchase of a significant 13.85% shareholding in Arab Insurance Group.”
Daniel Freifeld, Director of Gulf Tamin, stated: “We are pleased to have secured a stake in the renowned insurance company ARIG. We look forward to working with the Board to reinvigorate ARIG’s underwriting business in Bahrain and the region.” – TradeArabia News Service
