Mubasher: Al Anwar Holdings completed the sale of a 1.3 million-share stake in Falcon Insurance Company at a price of OMR 1.876 per share, according to a bourse statement.
A total of 10% out of the total net sale proceed of OMR 2.432 million will be deposited by the buyer in escrow account, to be released after one year. The remaining OMR 2.189 million shall be received on settlement date.
Al Anwar Holdings will retain 19% stake in Falcon Insurance.
This sale transaction has generated a profit of OMR 166,000 and a fair value gain on the remaining stake of OMR 0.263 million in the Al Anwar Holdings’ consolidated financials.
