GAC greenlights 17 economic concentration requests in February

11/03/2024 Argaam
Logo ofGeneral Authority for Competition

Logo of General Authority for Competition

The General Authority for Competition approved 17 economic concentration requests in February, marking an increase of nearly 31% compared to the previous month.

 

In an emailed statement to Argaam today, March 11, GAC explained that acquisition requests constituted 76% of these approvals, while joint venture requests accounted for 18%. One request was received to register an additional agency in the automotive sector.

 

For More Mergers and Acquisitions

 

The approvals included the full acquisition of Al Raya for Food Stuffs Company JSC by Tamimi Markets Co., and the acquisition of 100% of Hail Cement Co. by Qassim Cement Co. Other approvals included a joint venture between Al Mqr Development Company, Akam, and Beeah. The project aims to provide comprehensive solutions for the management and treatment of solid waste in Madinah, the statement added.

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