Article 259 of Companies Law

The merger of a shareholding company that has issued bonds or sukuk shall require the approval of the body of bondholders or sukuk holders of the merger resolution, by a majority representing two-thirds of the bonds or sukuk. Otherwise, the company shall arrange a debt settlement approved by the body of bondholders or sukuk holders by the aforementioned majority. The representative of the body of bondholders or sukuk holders may object to the merger resolution in accordance with the provisions of the preceding Article.