Malath and Liva Secure GAC Non-Objection for Potential Merger

Malath and Liva Insurance companies announced on Monday the issuance of a non-objection of the General Authority for Competition (GAC) to the economic concentration resulting from the Potential Merger between them.

Both companies indicated in a statement that the Potential Merger is still under study and they have not signed a binding agreement to date.

The two companies noted that if the merger agreement is concluded, the deal will be subject to a number of other conditions, including obtaining the approval of the Insurance Authority, the Capital Market Authority, the Saudi Stock Exchange, and the shareholders.