MANAMA: Bahrain-based Solidarity Group, a Sharia-compliant financial and insurance services provider, is looking to acquire at least 51 per cent stake in Al Ahlia Insurance Company (AAIC), a Bahraini conventional insurer, via an open offer to shareholders.
In a statement to Bahrain Bourse, Solidarity has said it would offer 242 fils per share to buy between 31,562,183 and 61,886,633 shares of AAIC, representing between 51pc and 100pc of AAIC’s issued and paid-up share capital .