2023-08-03 22:02:19
“Salama” and “Takaful Al-Emarat” companies confirmed the end of discussions related to a merger or acquisition between them.
The two companies said in two separate statements: “The Islamic Arab Insurance Company, Salama, and Takaful Emirates decided together to end discussions related to a merger or acquisition between the two companies.” They added that the two companies decided, following careful consideration, not to proceed with the merger project through shares, or any other alternative arrangements, including acquisition. This decision came as a result of the commitment of “Salama and Takaful Emirates” to their strategies for growth, depending on the dynamics of the market.
They added that this joint decision will not have any negative effects, including the interests of their shareholders. And reports had revealed plans to merge between “Salama” and “Takaful Emirates”, and in this regard, “Salama” revealed that it had received initial approval from the regulatory authorities to merge with “Takaful Emirates”, and said at the time that it was working to fulfill all legal and regulatory requirements to complete this. merger.
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