Competition Authority approves economic concentration between Alhokair, Arabian Centres, VogaCloset

13/07/2021 Argaam

Logos of Fawaz Abdulaziz Alhokair Co., Arabian Centres Co. and VogaCloset

The General Authority for Competition (GAC) issued a no objection certificate to the completion of the economic concentration process between Fawaz Abdulaziz Alhokair Co. (Fawaz Alhokair), Arabian Centres Co. (ACC), and VogaCloset Ltd., GAC stated on its twitter account.

 

Fawaz Alhokair and ACC will acquire 51% of VogaCloset capital.

 

Last March, Arabian Centres and Fawaz Alhokair signed an agreement to acquire 51% of the e-commerce platform for SAR 138 million, according to data compiled by Argaam.

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