Habib Bank Limited will increase its shareholding in New Jubilee Insurance Company to 24.5 per cent from the current 10 per cent.
The value of the current stake in the insurance company dropped to Rs515 million in 2010 from the preceding year’s Rs753 million. Both the investments are subject to regulatory approvals from the State Bank of Pakistan, the KSE notice informed.
Source: http://tribune.com.pk/story/140665/hbl-to-increase-stake-in-nigerian-bank/
M&A Market Note: Previously HBL had increased shareholding upto 17.95%, read here.
