Sukoon completed the acquisition of a 93% stake in ASCANA.

Synopsis

Sukoon, an insurance provider, completed the acquisition of a 93% stake in ASCANA, an insurance company. Financial terms were not disclosed. “This acquisition will not only strengthen Sukoon’s ability to meet a wider range of customer needs with Shariah-compliant products, but it will also allow ASCANA to leverage Sukoon’s strong heritage, market positioning and specialised underwriting capabilities," Jean-Louis Laurent Josi, Sukoon CEO.

Principals

target

Arabian Scandinavian Insurance Company (ascana)

bidder

Sukoon Insurance (ex-oman Insurance Company)

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Market Context

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Seller Team (1)

khalid al kazim

CEO at ARABIAN SCANDINAVIAN INSURANCE COMPANY (ASCANA)

Manager

target

Deal

n/a

Total Value

Bidder Team (1)

jean-louis laurent josi

CEO at SUKOON INSURANCE (EX-OMAN INSURANCE COMPANY)

Manager

bidder

Deals

n/a

Total Value

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