GAC approves 13 economic concentration applications in November

Logo of The General Authority for Competition (GAC)

The General Authority for Competition (GAC) issued 13 no-objection decisions for economic concentration applications in November, according to a statement. 

Acquisition applications dominated the approvals issued last month at 77%, followed by joint ventures at 15% and Wakala registration applications for the auto sector at 8%. 

The approvals issued included Jahez International Co. for Information System Technology's (Jahez) acquisition of a 35% stake in Sol Co. 

Alwasail Industrial Co.'s acquisition of the entire shareholding of Shawcor CPS Middle East Limited and Arabian Internet and Communications Services Co.'s (solutions) purchase of a 40% stake in Devoteam Middle East (DME) were also approved.