News Middle East17 Feb 2020

Kuwait:First Takaful to see net sale proceeds of at least US$37m

17 Feb 2020

First Takaful Insurance expects the proceeds from selling its 35% stake in a Turkish insurer to range from KWD11.5m ($37.7m) to KWD13.1m.

The takaful operator announced on 6 February this month in a statement to the Kuwaiti bourse that it had signed a preliminary agreement to sell its stake in Neova Sigorta Insurance.

The transaction is likely to be completed in three to six months.


 

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