National Life and General Insurance Company SAOG (MSM:NLIF) made an offer to acquire remaining 47.5% stake in Al Ahlia Insurance Company SAOG (MSM:AINS) for OMR 22.1 million on November 20, 2022. Under the terms, National Life and General Insurance (NLGIC) will acquire the remaining shares at OMR 0.466 per share. NLGIC will pay the shareholders of the Compulsory Acquired Shares the Offer Price as stated in the Offer Document.

Offer Completion is subject to acceptance by Al-Ahleia Insurance Company Shareholders representing a minimum of 90%. Capital Market Authority, Oman has approved the offer document. The Offer will remain open for acceptance for 21 days starting from December 5, 2022 to December 25, 2022.

As of December 25, 2022, exercise of compulsory acquisition was approved by Capital Market Authority. Transaction has been approved by Al-Ahleia Insurance shareholders. Muhammad Kashif Sabih of Ubhar Capital SAOC, Investment Banking Division acted as a financial advisor and Taher Noor Sayed of Younis Al Amri Advocates & Solicitors acted as legal advisor to National Life and General Insurance Company.