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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