AlAhli Takaful says creditors' objection period on merger with Arabian Shield to end Jan. 11

09/01/2022 Argaam

Logos of AlAhli Takaful and Arabian Shield

AlAhli Takaful Co. (ATC) announced the creditors' objection period on the merger with Arabian Shield Cooperative Insurance Co. will expire on Jan. 11, according to a bourse filing.

 

As per Article 193 of the Companies Law, the merger will become effective upon the expiry of the creditors' objection period, assuming there are no unresolved objections from ATC's creditors.

 

Late last year, ATC announced that the creditors' objection period to the merger deal, as per the provisions of Article 193 of the Companies Law, started from Dec. 12, 2021, until Jan. 11, 2022, Argaam earlier reported.

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