‎SAMA approves merger of Walaa Insurance protection, SABB Takaful

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Trademarks of Walaa Insurance protection and SABB Takaful


Walaa Cooperative Insurance protection Co. and SABB Takaful Co. announced obtaining the Saudi Central Financial institution’s (SAMA) approval on their prospective merger transaction and other linked issues.

The merger transaction completion remains field to other stipulations, at the side of obtaining the last regulatory approvals and the affirmative votes of the extraordinary overall assemblies of every insurers on the merger, the 2 firms infamous in separate bourse statements.

In February, Walaa Insurance protection signed a binding merger settlement with SABB Takaful, reflecting the settlement of every firms to merge by means of a portion swap transaction. Walaa will say 0.6 nominal shares in opposition to every issued portion in SABB Takaful for the excellent thing about eligible shareholders, Argaam reported earlier.

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