Muscat, 15 February 2017
Dentons advised Al Anwar Holdings SAOG on the sale of 20.35% of its shareholding in Falcon Insurance Company SAOC (FIC) for a consideration of OMR 1.876 per share to Arabia Insurance Company S.A.L's (AIC) affiliates, namely Arabia S.A.L. and Lawrence Investment LLC (Under Formation). The transaction also involved a simultaneous acquisition of the business, assets and liabilities of AIC's Oman branch by FIC, and Dentons also advised on the business transfer agreement.
Al Anwar, a private equity firm, invests in small- to medium-sized businesses in Oman, the Middle East and South Asia. It has witnessed steady growth over several years.
Dentons' Co-Managing Partner and Head of Corporate in Muscat, Nick Simpson, commented, "We are delighted to have worked with Al Anwar on its strategic divestment of a significant stake of its insurance business and look forward to working with them in the future."
The transaction was led by Nick Simpson and senior associate Darshi Sanganee, both based in Muscat.
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For further information, please contact:
Charlene Singh
Acting Team Lead of Business Development & Marketing - Middle East
+968 2457 3034
charlene.singh@dentons.com
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