Al-Ahlia Insurance says creditors’ objection period on Gulf Union merger starts today

03/11/2020 Argaam

Al-Ahlia Insurance Co. said in a bourse filing that creditors’ objection period on merger with Gulf Union Cooperative Insurance Co. begins today, Nov. 3, 2020, and will continue until Dec. 3, 2020.

 

Creditors are allowed to object to the process by sending registered mail to the company’s head office in Riyadh.

 

Upon the completion of the period and in case of no objections by the company’s creditors, the merger decision will be effective as per the Companies Law.

 

Shareholders of Al-Ahlia Insurance Co. approved the merger with Gulf Union Cooperative Insurance Co. in the extraordinary general meeting (EGM) held on Nov. 2, according to data compiled by Argaam.

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