Tadawul delists Solidarity shares as merger takes effect

02/03/2021 Argaam

Logo of Solidarity Saudi Takaful

The Saudi Stock Exchange (Tadawul) announced the delisting of Solidarity Saudi Takaful Co. (Solidarity)  shares, as of Monday, March 1, 2021.

 

The creditor objection period for the merger between Solidarity and Aljazira Takaful Taawuni Co. ended Feb. 26, 2021, without any outstanding objections from Solidarity’s creditors, Argaam reported.

 

Accordingly, the merger between the two insurers became effective, as Solidarity expired and all its assets and liabilities transferred to Aljazira Takaful, which will continue to exist.

 

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