Months of studies and negotiations have come to an end as Amana Cooperative Insurance and Allied Cooperative Insurance Group (ACIG) have decided to terminate their merger project [4].
This cancellation will have no financial impact on either company.
For the record, Amana and ACIG signed a non-binding Memorandum of Understanding in September 2022 for a possible merger.
Links:
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[2] https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Fcategory%2Fpays%2Farabie-saoudite%2Famana-and-acig-terminate-merger-project&source=Atlas Magazine&mini=true
[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-208-february-2024
[4] https://www.atlas-mag.net/en/category/pays/arabie-saoudite/proposed-merger-between-amana-cooperative-insurance-and-allied-cooperative-insurance