Competition Authority approves merger of 5 tourism firms

08/07/2020 Argaam

Saudi Arabia’s General Authority for Competition (GAC) approved the merger of five firms operating in the travel and tourism sector in Saudi Arabia, Bahrain, the UAE, and the Netherlands.

The companies are:

 

- Kanoo Global Travel Holding Limited (UAE)

 

- GBT Euro Travel Holdings (Netherlands)

 

- Kanoo Travel (Saudi Arabia)

 

- YBA Kanoo Group (Bahrain)

 

- YBA Kanoo Group (Saudi Arabia)

 

Under the merger deal, GBT Euro Travel Holdings will acquire 65% stake in Kanoo Global Travel Holding Limited.

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