Gulf Tamin Ltd, a consortium led by Lepercq, de Neuflize & Co, a New York based financial company, and Callaway Capital Management LLC, a U.S. based hedge fund, today acquired 13.85% of Arab Insurance Group (ARIG).
Gulf Tamin Ltd. was advised by SICO BSC (c), a leading GCC investment bank, and legal advisors Trowers & Hamlins and Zu’bi and Partners.
Wissam Haddad, Head of Investment Banking and Real Estate at SICO, said, “We are delighted to be working closely with Gulf Tamin and their international shareholders and to have now successfully completed their purchase of a significant 13.85% shareholding in Arab Insurance Group.”
Daniel Freifeld, Director of Gulf Tamin Ltd, stated, “We are pleased to have secured a stake in the renowned insurance company ARIG. We look forward to working with the Board to reinvigorate ARIG’s underwriting business in Bahrain and the region.”
