Arabian Shield appoints AlJazira Capital as financial advisor for potential merger with Alinma Tokio

Logos of Arabian Shield Cooperative Insurance and Alinma Tokio Marine

Arabian Shield Cooperative Insurance Co. announced the appointment of AlJazira Capital as a financial advisor for the proposed merger with Alinma Tokio Marine Co., according to a statement to Tadawul. On Dec. 13, Alinma Tokio and Arabian Shield signed a non-binding memorandum of understanding (MoU) on a potential merger.

Arabian Shield will inform the market with any material developments in this regard, it stated. On Dec. 13, Alinma Tokio and Arabian Shield signed a non-binding memorandum of understanding (MoU) on a potential merger, Argaam reported.

Both companies agreed to conduct operational, technical, financial, legal, and actuarial due diligence and enter into non-binding talks on the terms and conditions of the potential merger.

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