“Buruj Insurance” completes a deal to sell all of its shares to Gulf Insurance Group

Buruj Insurance Company announced the completion of the deal to sell all of its shares to Gulf Insurance Group, amounting to 8.5 million shares, representing 28.5% of the capital, for a value of 121.8 million riyals, after obtaining regulatory approvals.

It indicated that this deal will result in a change in the company’s major shareholders, with the buyer replacing the seller among the company’s major shareholders.

The company confirmed that this change will be reflected in the major shareholders page.

We would also like to point out that the deal was completed with the same details announced in the company’s announcement published on 08/08/1445 AH corresponding to 02/18/2024 AD, which stated at the time that the number of shares to be sold by the founder/Gulf Insurance Group is 8,550,000 shares representing 28.50% of the capital of Buruj Cooperative Insurance Company, for one hundred and twenty-one million, eight hundred and thirty-seven thousand, five hundred (121,837,500) Saudi riyals.