solutions gets GAC approval to buy stc’s 49% stake in CCC

06/03/2023 Argaam

solutions gets GAC approval to buy stc’s 49% stake in CCC

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stc received on March 5 a no-objection certificate from the General Authority for Competition (GAC) to sell its 49% interest in Contact Center Co. (CCC) to Arabian Internet and Communications Services Co. (solutions).  

 

The deal is expected to be closed in the second quarter of 2023.

 

The completion of the deal is subject to other regulatory and commercial conditions.

 

stc is the largest shareholder in solutions, with a 79% of stake. In January, stc signed a sale and purchase agreement with solutions to sell stc’s entire 49% stake in CCC for a cash consideration, Argaam earlier reported.

 

For More Mergers and Acquisitions

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