Samba says creditor objection period to merger with NCB begins

02/03/2021 Argaam

Logo of Samba Financial Group

Samba Financial Group said that the 30-day creditor objection period, according to Article No. 193 of the Companies Law, starts today, March 1, 2021, according to a bourse filing.

 

The merger will take place if no objection is received from the creditors until March 31, 2021.

 

Any creditor has the right to object to the merger deal by sending a registered letter to Samba’s address: 6956 King Abdul Aziz Road, AlMalaz District, Unit No 1, Riyadh: 12629- 3046, Saudi Arabia.

 

Shareholders of National Commercial Bank (NCB) and Samba approved today, March 1, 2021, the merger of both banks, during their respective extraordinary general meetings (EGM), Argaam reported.

 

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