Abu Dhabi weighing sale of 24 pct stake in insurance firm ADNIC-sources:
"State-backed Abu Dhabi Investment Council is weighing the sale of its nearly 24 percent stake in Abu Dhabi National Insurance Co (ADNIC), with Allianz among groups showing initial interest in buying it, sources familiar with the matter said. If the deal goes ahead, it will further boost Allianz’s presence in emerging markets and give the global insurer a stronger position in the United Arab Emirates (UAE), a market seen as ripe for consolidation. Abu Dhabi Investment Council might hire an adviser for the deal, one of the sources said."
'via Blog this'
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