Amana Cooperative Insurance Company announced the Board of Directors’s decision last Tuesday to start initial discussions with Saudi Enaya Cooperative Insurance Company to study the merger of the two companies.
In a statement to the Saudi Market (Tadawul), today, Monday, Amana said that entering into these discussions does not necessarily mean that the merger will take place between the two parties, but only to be Explore the potential for mutual benefit between the two companies' shareholders.
and in the event of a preliminary agreement on the merger, a non-binding memorandum of understanding will be signed with Saudi Enaya Cooperative Insurance Company to assess the feasibility of the merger of the two companies, but it is still necessary to obtain approvals Official before completing the merger.
It is worth noting that our shareholders will be informed of any upcoming developments in this regard, in accordance with the relevant regulatory disclosure requirements.
