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The Saudi British Bank announces entry into a binding merger agreement with Alawwal bank

SAB 1060 4.63% 35.00 1.55

Element List Explanation
Announcement Detail Further to the 1/9/1439H (corresponding to May 16, 2018G) announcement of a non-binding agreement between the Saudi British Bank ("SABB") and Alawwal bank with respect to the exchange ratio of their proposed merger, SABB would like to announce to its shareholders that it entered into a binding merger agreement on 3 October 2018 with Alawwal bank under which the two banks agreed to take the necessary steps to implement a merger by way of a statutory merger pursuant to Articles 191-193 of the Companies Law and Article 49(a)(1) of the Merger and Acquisition Regulations (the "Agreement").

For the further details on the announcement, please refer to the attachment.

Attached Documents   

The Saudi British Bank announces entry into a binding merger agreement with Alawwal bank

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