Al Ahsa, Twareat request regulatory nod on economic concentration

25/02/2019 Argaam

 

Al Ahsa Development Co. (ADC) and Twareat Medical Company have requested the General Authority for Competition’s approval on economic concentration.

 

The economic concentration process will occur as ADC acquires a 25 percent stake in Twareat, the authority said in a statement.

 

As per the regulations, the competition authority has invited today economic opinions on the matter within 15 days from date.

 

According to data compiled by Argaam, ADC signed on Jan. 8 an agreement to buy a 25 percent stake in Twareat for SAR 15 million. 

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