Saudi insurance firms Walaa, MetLife complete merger
Walaa Cooperative Insurance Company and MetLife AIG ANB Cooperative Insurance Company have completed their merger.
In September last year Walaa signed a binding merger deal to acquire all stakes held by shareholders of MetLife through a share swap without any cash consideration.
Walaa said in a bourse filing on Tuesday (Mar 3) that the listing and deposit of new shares in the accounts of the eligible MetLife shareholders have been completed and that MetLife shares have been delisted from the Saudi stock exchange.
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