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L&G Group sells 50pc stake to Ahli United Bank

MANAMA, October 22, 2015

The Legal and General Group has decided to sell its 50 per cent stake in Legal and General Gulf (LGG), to its Bahrain-based joint venture with Ahli United Bank (AUB) specialising in the extension of conventional and Sharia-compliant life insurance services.  This move comes in the context of other corporate divestitures undertaken by the L&G Group in France, Germany and Egypt to focus its business on identified core markets. Following completion of the sale, AUB now holds 100 per cent of LGG’s shares, said a report in the Gulf Daily News (GDN), our sister publication.
 
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Tags: Stake | Ahli | sell | united | L&G |

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