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October 23, 2023

Newton Legal advises Ahli United Bank on the sale of Alhilal Life and Alhilal Takaful

18 October 2023

Newton Legal advised Ahli United Bank on the sale of its conventional insurance company, Alhilal Life, and takaful insurance company, Alhilal Takaful, to Solidarity Bahrain. The firm acted as lead counsel to Ahli United Bank advising on the transaction documents (including the arrangements related to the sale of Alhilal Life and Alhilal Takaful) and the legal and regulatory considerations related to the transaction.

Newton Legal’s Partner Ahmed Alfardan led the transaction with the support of Maryam Kamal (Senior Associate), Omaima Alkooheji (Associate) and Dana Yaqoobi (Trainee Associate).

Newton Legal’s Managing Partner Aamal Alabbasi commented on the firm’s involvement with the deal: “The firm’s role in the transaction is a testament to our continuing expansion into the financial sector in the Kingdom of Bahrain. We had the pleasure of working with Ahli United Bank on this transaction and we thank them for their continued trust in our firm”.