Dubai Investments acquires 21.5% stake in National General Insurance

Dubai Investments acquires 21.5% stake in National General Insurance

Dubai Investments has purchased 32.3 million shares in National General Insurance Company (NGI) from Emirates NBD.

The transaction, valued at AED 3.27 per share, represents 21.53% of NGI's share capital, according to a bourse filing on Wednesday.

Following the execution of the direct deal, Dubai Investments' total ownership in NGI reached 29.99% of NGI's issued share capital.

Meanwhile, Emirates NBD Bank continues to hold 22.778 million shares in NGI, representing 15.19% of the issued share capital of NGI.

It is noteworthy to mention that the ordinary general meeting (OGM) of Dubai Investments approved to pay cash dividends, equivalent to 8% of the capital, for 2020.