Fairfax International Corp. completed the acquisition of 7.05% stake in Gulf Insurance Group K.S.C.P. for approximately KWD 40 million.
Fairfax (Barbados) International Corp. completed the acquisition of 7.05% stake in Gulf Insurance Group K.S.C.P. (KWSE:GINS) for approximately KWD 40 million on April 25, 2024. The offeror has acquired 20,074,635 shares at KWD 1.946 per share in a total value of KWD 39.065 million, excluding transfer & processing fee, which represents 7.05% of Gulf Insurance Group's issued and paid up share capital. Thus, the ownership of the group of Fairfax Financial Holdings Limited in the Offeree Company has increased from 90.01% to 97.06%.