Gulf General says creditors have no objection to merger with Gulf Union Alahlia

Logos of Gulf Union Alahlia Cooperative Insurance Co. and Gulf General Cooperative Insurance Co. (GGI)

Gulf General Cooperative Insurance Co. (GGI) said that the creditor objection period ended on March 12, with no objections to its merger with Gulf Union Alahlia Cooperative Insurance Co., according to a Tadawul statement.

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The creditor objection period started on Feb. 25.

Both companies signed a binding merger agreement in December 2024, Argaam earlier reported.

Shareholders of both insurers will vote on March 27, regarding the merger via issuing 22.82 million new Gulf Union Ahlia shares and the subsequent dissolution of GGI.