Saham Finances S.A. signed an agreement with Banque Audi SAL – Audi Saradar Group and individual shareholders to acquire 81% of Beirut-based LIA Insurance SAL.
The completion of the sale is subject to obtaining the required regulatory approvals and is expected to take place by the end of June 2012, the two companies stated today in a joint statement to the Beirut Stock Exchange.
Lebanon will serve as Saham Finances S.A.’s platform for its entry into the Middle Eastern countries, the two companies stated.


