OMINVEST’s Insurance Subsidiary, NLGIC, to acquire RSA Middle East towards Building a Leading Multi-Line Insurance Group in the Region

OMINVEST’s Insurance Subsidiary, NLGIC, to acquire RSA Middle East towards Building a Leading Multi-Line Insurance Group in the Region

Muscat, Oman: With common interests to further broaden and strengthen its regional insurance business, National Life & General Insurance Company SAOG (NLGIC) – a subsidiary of Oman International Development and Investment Company SAOG (OMINVEST) – has entered a strategic transaction to acquire 100% shareholding in Royal Sun Alliance (RSA) Middle East. NLGIC will execute the transaction in two parts: (i) purchasing 50.00002% shareholding in RSA Middle East from Sun Alliance Insurance Overseas LTD (SAIO), a fully owned entity of Royal & Sun Alliance Insurance Limited; and (ii) exchanging the remaining…

Nissan Motor Co and its Middle Eastern Subsidiary Nissan Middle East

Nissan Motor Co and its Middle Eastern Subsidiary Nissan Middle East

Nissan Motor Co and its Middle Eastern Subsidiary Nissan Middle East found “Unrightfully Diverting Profits” for a decade from it’s JV Partner Al Dahana and loses in Court in a landmark lawsuit Amounting to approx. AED 1.2 Billion in favour of Al Dahana FZCO Dubai, October 13,2021: Nissan Motor Co. Ltd (Japan). and Nissan Middle East (Jabal Ali) has been charged to pay in excess of AED 1.2 billion to the Partner Al Dahana FZCO in a landmark ruling in the case filed by the latter. The Dubai Court of…