Addendum announcement: Bupa completes increase in stake in Bupa Arabia to 34.25% with Nazer Group continuing to remain a long-term shareholder
A Tadawul announcement on Thursday 15/08/1438H (corresponding 11/05/2017G) confirmed Bupa's intention to increase its shareholding in Bupa Arabia, from 26.25% to 34.25%, following an agreement for the acquisition of a portion of ASAS' (a Nazer Group Company) stake. Bupa Arabia would now like to inform its shareholders of the completion of the sale arrangements between Bupa and Nazer Group, on Wednesday 19/09/1438H (corresponding 14/06/2017G). This is at the agreed price of SAR 143 per share, totaling SAR 915.2 million, reflecting the partners' confidence in the strong future prospects of Bupa Arabia.
As previously announced, the Nazer Group will continue to remain as a long-term shareholder in Bupa Arabia. Both parties are pleased to confirm that Mr. Loay Nazer intends to continue as the Chairman of the Bupa Arabia Board and Mr. Tal Nazer as CEO.
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