Al Buhaira National Insurance to Sell Real Estate Investment for AED31 Million

Al Buhaira National Insurance Co. (ADX:ABNIC) agreed to sell one of its real estate investments for 31 million Emirati dirhams. The insurance company said Thursday the asset will be sold to Talal Al Muzaini, Thamer Al Muzaini, Mohammad Al Muzaini, and Adel Al Muzaini, with the closing of the deal expected on July 8. The proceeds from the sale will be used to boost the company's cash flows and financial position.