Riyadh – Mubasher: Amana for Cooperative Insurance Company said that the Saudi General Authority of Competition has issued a non-objection note for the merger with Saudi Enaya for Cooperative Company on 14 July.

The agreement is still subject to approvals of the Saudi Central Bank (SAMA), the Capital Market Authority (CMA), the Saudi Exchange (Tadawul), and the general assembly meetings of both Amana and Saudi Enaya, according to a bourse filing on Thursday.

Last May, the two insurance companies signed a binding merger agreement.