Al Anwar Holding have entered into an Agreement for Sale & Purchase of Shares (SPA) with Arabia Insurance Company. As per the agreement Al Anwar Holding would be selling 20.35% stake of Falcon Insurance, at a price of OMR1.876 per share. Falcon Insurance would simultaneously acquiring business, assets and liabilities of Arabia Insurance Company S.A.L (Oman Branch), in accordance with the terms of a Business Transfer Agreement. The profit generated out the transaction would have no significant impact on the financials of Anwar Holding, as per the management memo. The transaction would be concluded by end of March 2017. (Company disclosure)