Maharah's subsidiary gets GAC's nod to acquire 40% of Salis Trading

24/10/2022 Argaam
Logo ofMaharahHuman Resources Company

Logo of Maharah Human Resources Company

The General Authority for Competition (GAC) issued a no-objection certificate for the economic concentration between Growth Avenue Co. and Salis for Trading and Marketing Co.

 

The concentration includes Growth Avenue's acquisition of a 40% stake in Salis, the authority said in a statement today, Oct. 24. 

 

In May, Maharah's wholly-owned subsidiary, Growth Avenue, signed a sale and purchase agreement (SPA) to acquire a 40% stake in Salis, according to data available with Argaam.

 

Salis is the owner of Suroor App that offers various home and personal services.

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