Malath Cooperative Insurance and Liva Insurance (KSA) have announced via the Saudi Exchange that they have agreed to extend a Memorandum of Understanding (MoU), regarding a potential merger between them. The extension is for a month until 23 March 2026.
This is an additional extension following one agreed in August 2024 by Malath and Liva KSA to extend, by six months until 21 February 2026, the MoU to assess the feasibility of the merger. In December 2024, the two companies announced that the proposed merger deal would be structured by merging Liva KSA as the "merged company" into Malath as the "acquiring company".
The process for the proposed M&A consists so far of:
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Date
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Announcement on the Saudi Exchange regarding:
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22 August 2024
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Signing of a non-binding memorandum of understanding between the two parties
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8 September 2024
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Appointment of separate financial advisers for each party
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18 November 2024
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Issuance of a non-objection by the General Authority for Competition
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2 December 2024
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Proposed merger’s structure
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21 August 2025
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Extension of MoU by six months
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21 February 2026
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Extension of MoU by an additional month to 23 March 2026
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The potential merger reflects the importance that the Liva Group, the parent of LIVA KSA, places on Saudi Arabia, the largest market in the GCC and one that is growing at a significant pace.
Mr Khalid Al Zubair, chairman of Liva Group, said, “Saudi Arabia is the largest market in the GCC with a strong momentum for growth. Expanding the Group’s footprint in the Kingdom is one of the key pillars of our strategy to accelerate growth across the Group, as we look to become the insurer of choice for customers across the GCC. Strategic partnerships such as the one we are exploring with Malath Insurance can help us achieve that ambition.”