Bahrain National Holding to acquire a majority stake in Al Ahlia Insurance Co

Beirut: Bahrain National Holding Co. (BNH) said on Sunday that it plans to acquire a majority stake in the local firm Al Ahlia Insurance Co. (AHLIA.BH). BNH, which holds interests in insurance firms, said that it is awaiting the response of Al Ahlia’s board before it embarks on a due diligence study. It added that it will hire a consultant to carry out this study.

Al Ahlia’s board is due to meet before the end of the current month, BNH said in a statement posted on the Bahrain Bourse website.

Total assets of BNH and Al Ahlia stood at 80.28 million Bahraini dinars (Dh782 million) and BHD32.56 million respectively at the end of June, according to Zawya.com data.