Salama appoints financial advisor for proposed merger with Saudi Enaya

18/03/2025 Argaam
Logo ofSalama Cooperative Insurance Co.

Logo of Salama Cooperative Insurance Co.

Salama Cooperative Insurance Co. appointed Estidamah Capital as the financial advisor for its proposed merger with Saudi Enaya Cooperative Insurance Co.
 

In a statement to Tadawul, the company said any future developments requiring disclosure will be announced in due course.

 

For more news and details on M&As

 

According to data available with Argaam, Salama and Saudi Enaya signed a non-binding memorandum of understanding (MoU) in February to assess the feasibility of merging the two companies.

 

If the potential deal proceeds, the merger will be executed through a legal consolidation, with Salama as the surviving entity and Saudi Enaya as the merged entity. The deal will involve a share swap, through which Salama will increase its capital by issuing new shares to Saudi Enaya’s shareholders based on an agreed exchange ratio.

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