Saudi insurers Amana and Enaya agree to merge
Published 02 May,2021 via Arab News - Economy DUBAI - Amana Cooperative Insurance Company and Saudi Enaya Cooperative Insurance Company have agreed to merge.
Upon completion of the merger, Enaya’s assets and liabilities will be transferred to Amana, subject to shareholder and government approval, the pair said in separate stock exchange filings on Sunday.
Enaya’s shareholders will own 55 percent of the merged entity’s capital and Amana’s current shareholders will own 45 percent.
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