Gulf Union Al Ahlia Cooperative Insurance Company and Al Sagr Cooperative Insurance Company have started preliminary discussions to study the feasibility of a merger between the two companies.
According to Arabiya Net, engaging in merger discussions aims to explore the possibility of mutual benefit between the shareholders of the two companies.
In the event that a preliminary agreement on the merger is agreed upon, a non-binding memorandum of understanding will be signed between Union Al-Khalid National Company and Al-Sager Cooperative Insurance Company to assess the feasibility of the merger, but it is still necessary to obtain obtain official approvals before completing the merger process.
According to the data, the shareholders will be informed of any upcoming developments in this regard, in accordance with the relevant regulatory disclosure requirements.
