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20/08/2017 13:20 AST
On 17 Aug 2017, SABB Takaful (the Company) was informed that HSBC Asia Holdings BV and certain other wholly-owned subsidiaries * of HSBC Holdings plc (together HSBC) have reached an agreement with the Saudi British Bank ( SABB) for the sale of their combined 32.5% shareholding in the Company to SABB.
Completion of the transaction is subject to regulatory approvals and approval by SABB shareholders at a general assembly of SABB and is expected to occur during the second half of 2017. Following completion of the transaction, SABB will hold 65.0% of the share capital of the Company.
The Company expects this transaction to result in a stronger strategic alignment between the two companies. The Company generated SAR194m gross written contributions in 2016 and as at year-end 2016 had total assets of SAR860m. Employees and customers of the Company will not be affected by the transaction.
The other wholly-owned subsidiaries referred to are Canada Crescent Nominees (UK) Limited, Canada Square Nominees (UK) Limited and Canada Water Nominees (UK) Limited)
Tadawul
14/01/2016
SABB Takaful Company announces that the Audit Committee confirmed today 14/1/2016 the technical reserves in the statement of reserves received from the Appointed Actuary in which includes a material
Tadawul
20/03/2015
In its efforts to promote and promulgate Islamic finance practices, SABB has taken up exclusive sponsorship of AAOIFI's 4 standards issuances planned to be released and published by Accounting and Au
Press Release
19/02/2015
SABB Takaful was Named "Best Takaful Company in the Kingdom of Saudi Arabia for 2014" at the MENA Insurance Awards event held in Dubai recently. The prestigious event was attended by a group of major
Saudi Gazette
| Ticker | Price | Change |
|---|---|---|
| BURGERIZZR | 12.50 | -0.50 (-3.85 |
| ALMUTAHED | 0.00 | 0.00 (0.00 |
| ALMAL | 0.00 | 0.00 (0.00 |
| ALAMAN | 0.00 | 0.00 (0.00 |
| MASSALEH | 0.00 | 0.00 (0.00 |
21/02/2025
Abu Dhabi's Adnoc raised about Dh10.4 billion ($2.84 billion) from the sale of 3.1 billion shares in Adnoc Gas on "exceptional" demand from Gulf and international institutional investors.
Th
The National
20/02/2025
Saudi Tadawul Group said it's targeting more mergers and acquisitions as it looks to further develop the local capital market and draw in foreign investors.
The owner of the Saudi stock excha
Bloomberg
20/02/2025
In a grand display of community spirit and dedication to sustainability, LuLu Saudi Hypermarket hosted the highly anticipated LuLu Walkathon on Saturday, February 15, 2025, to commemorate Saudi Found
Saudi Gazette
19/02/2025
Commercial Bank has participated in the 'Tawteen' initiative, a nationalisation programme led by the Ministry of Labour (MoL) aimed at empowering Qatari nationals in line with Qatar National Vision 2
Gulf Times
18/02/2025
The Saudi Dairy and Food Products Company participated in the 12th Career Forum at King Abdulaziz University. The event took place from Feb. 2 to 6, under the patronage of Prince Saud bin Mishal bin
Arab News
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia