Saudi Enaya says creditor objection period for merger with Salama ends

Saudi Enaya said the creditor objection period for its merger with Salama Insurance on Dec. 18, without any abjections received.

Saudi Enaya Cooperative Insurance Co. said the creditor objection period for its planned merger with Salama Cooperative Insurance Co. ended on Dec. 18, with no objections received.

In a statement to Tadawul, the company said the merger remains subject to several conditions, most notably approval by shareholders of both companies. It added that it will disclose any material developments related to the transaction as they occur.

According to Argaam data, Saudi Enaya has invited its shareholders to vote on the proposed merger on Jan. 4, 2026.

Under the agreement, Enaya will be merged into Salama, with all rights, obligations, assets, and contracts transferred to Salama. In exchange, Salama will issue 18.89 million ordinary shares to Enaya’s shareholders.