Bawan gets no-objection from GAC on Petronash acquisition

05/12/2024 Argaam
Logo ofBawan Co.

Logo of Bawan Co. 

Bawan Co. received on Dec. 4 clearance from the General Authority for Competition (GAC) to complete the economic concentration for the acquisition of 100% of Petronash Holding Ltd, according to a statement on Tadawul.

 

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In October, Bawan signed an agreement to purchase 100% of Petronash’s capital, at a total value of $175 million (or nearly SAR 656 million), subject to change based on future financials, Argaam reported.

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