Creditor objection period on Al-Ahlia-Gulf Union merger ends on Dec. 3

The creditor objection period for the merger between Al-Ahlia Insurance Co. and Gulf Union Cooperative Insurance Co. will end on Thursday, Dec. 3, 2020.

According to the Companies Law, the merger will take effect upon the expiry of the creditor objection period in the absence of any existing objections from Al-Ahlia creditors, the insurer said in a bourse filing today, Dec. 1.

Last month, shareholders of Al-Ahlia and Gulf Union approved the proposed merger.

The creditor objection period began on Nov. 3.