Saudi competition authority approves 51 concentration applications in Q4 2021

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The General Authority for Competition (GAC) received 102 economic concentration applications during the fourth quarter of 2021, it said in a statement to Argaam.

No-objection certificates (NOCs) were issued for 51 applications, a 34% increase quarter-on-quarter.

GAC received applications of economic concentration (mergers and acquisitions, and joint ventures), which it studies and issues necessary decisions.

It also studies the market and sectors in the event of violations of the Competition Law or to promote competition in different sectors.

The authority issued one rejection decision and handled 39 applications out of the total as non-reportable. Another 11 applications are still under review.

Acquisition applications accounted for the largest share of issued NOCs, reaching 41 out of 51 applications, or 80%.

Meanwhile, there were two merger applications and eight joint venture applications.

Manufacturing topped the list of sectors with 12 applications, or 23.5% of total applications, followed by the information and communications sector with 10 applications, or 19.6%.

GAC official spokesman Saad Al Masoud said that the authority received the largest number of applications to study since its inception in 2021, an increase of 115% year-on-year.