The General Authority for Competition (GAC) issued today, June 8, 2021, a no-objection certificate for UAE’s ADNOC Distribution to acquire 20 fuel stations in Saudi Arabia.
Of the 20 fuel stations, four are owned by Magdala Homes Contracting Co. Ltd. and 16 are owned by Fuel Petroleum Services Co. Ltd.
The competition authority conducted a detailed study for the fuel stations market in the Kingdom prior to issuing the decision. It ensured that the acquisition would not raise any concerns about fair competition in the fuel sector in the Saudi market.
In May 2021, ADNOC Distribution obtained GAC’s approval to acquire 15 fuel stations owned by Mazaya Fuel in Eastern Province.
Accordingly, the total number of fuel stations acquired by ADNOC in 2021 stands at 35.
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