Gulf Union says no impact from Al Ahlia’s merger rejection

20/02/2019 Argaam

Gulf Union Cooperative Insurance Co. said there will be no financial impact on its capital as a result of Al Ahlia for Cooperative Insurance Co.’s rejection for the merger offer submitted by the company.

 

Any updates will be disclosed in a timely manner, the insurer added in a bourse statement.

 

On Monday, Al Ahlia’s shareholders rejected the merger offer submitted by Gulf Union through a full acquisition of the Al Ahlia’s shares via a security swap offer, according to data compiled by Argaam.

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