Gulf General and Gulf Union Alahlia Receive Non-Objection for Merger from Competition Authority

Gulf General Cooperative Insurance Co. and Gulf Union Alahlia Cooperative Insurance Co. announced that the General Authority for Competition has issued a non-objection decision regarding the economic concentration resulting from their proposed merger transaction.

The companies noted that the proposed merger remains under review, with no binding agreement signed as of yet.

They further clarified that if a merger agreement is finalized, it will be subject to various conditions, including approvals from the Insurance Authority, the Capital Market Authority, the Saudi Stock Exchange (Tadawul), and the shareholders of both companies.