Phoenix Group PLC announced that Alcoun Investment Sole Proprietorship L.L.C has completed the acquisition of shares in Phoenix Group previously held by Seyedmohammad Alizadehfard, Echo Holding Limited, Horizon Holding Limited and Vertex Holding Limited.
Following completion of the transaction, Alcoun Investment now owns 10.49% of Phoenix Group’s issued shares, becoming one of the company’s significant shareholders.
Key highlights:
• Alcoun Investment completed the acquisition of Phoenix Group shares
• Shares acquired from four existing shareholders
• Alcoun now owns 10.49% of Phoenix Group
• Transaction results in a change to the company’s shareholder structure
• Phoenix confirms continued commitment to its long-term strategy
According to the company, the transaction does not alter Phoenix Group’s strategic direction, with management reaffirming its commitment to creating sustainable long-term value for shareholders.
Phoenix stated that its Board of Directors and management team will continue to uphold high standards of corporate governance and act in the best interests of the company and its stakeholders.
The disclosure relates to a change in ownership structure and provides an update on the company’s major shareholdings following completion of the transaction.
Source: Abu Dhabi Securities Exchange (ADX) Disclosure / Phoenix Group PLC
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.