Logo of the General Authority for Competition
The General Authority for Competition (GAC) issued a no objection certificate with respect to the completion of the economic concentration transaction between SAMI Defense Systems LLC and MBDA International Limited in Saudi Arabia.
Both parties will establish a joint venture (JV) for the manufacturing and development of tactical missiles, GAC said in a statement.
The authority said it recognized the commodity dimension of the deal in the tactical missile manufacturing and development market, given that it is the core activity of the entity.
The JV will serve the military defense sector, a key industry in the Kingdom.
The deal will help realize one of the Kingdom’s Vision 2030 objectives with respect to the localization of 50% of the government military spending in Saudi Arabia.
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