Fareast Islami Life Insurance Company Limited (DSE:FAREASTLIF) agreed to acquire an additional 7% stake in Fareast Islami Properties Limited on December 4, 2014. Fareast Islami Life Insurance will acquire 0.7 million shares of Fareast Islami Properties in the deal. Following the completion of the deal, Fareast Islami Life will hold 58% stake in Fareast Islami Properties.

The Board of Fareast Islami Life Insurance decided the deal on December 4, 2014.