Merger of Arab Shield Cooperative Insurance with Al-Ahly Takaful Approved by Saudi Arabia’s Competition Authority

The General Authority for Competition (Competition Authority) in Saudi Arabia has expressed that it has no objection to the merger of the Arab Shield Cooperative Insurance Company (Arab Shield) with Al-Ahly Takaful Company (Al Ahly Takaful).

Why it Matters?

Arab Shield has signed a binding merger agreement with the promise of buying all the shares of Al-Ahly Takaful’s shareholders through a share exchange offer, without cash consideration. To implement this, the Al-Daraa Insurance Company will issue new ordinary shares to shareholders of Al-Ahly Takaful, provided the approval of all government agencies and the extraordinary general assembly of both companies is granted,

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