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01-04-14

Bahrain's Al Ahlia to sell its stake to BNH

(MENAFN) Bahrain-based Al Ahlia Insurance plans to sell controlling stake to Bahrain National Holding Group (BNH), according to Gulf Daily News. Al Ahlia chairman Sofyan Adnan Khatib said that Al Ahlia plans to to exit the business and had approached BNH. According to Mr Khatib, during the initial talks the two entities were in agreement over Al Ahlia's status. Khatib said: "This does not mean selling of the whole entity to BNH and basically would be a cash injection from the new majority stakeholder... Al Ahlia would continue to operate as it is without any major change to the structure."