BATIC gets competition authority’s approval on several acquisitions

13/09/2018 Argaam

 

The Saudi General Authority for Competition (GAC) approved on Thursday the economic concentration arising from BATIC Investment and Logistics Co.’s (BATIC) acquisition of a number of companies and assets.

 

In July, BATIC applied to get GAC’s approval on acquiring a number of companies and assets.

 

BATIC sought approval to acquire Himmah Logistics Company, Al Muhaidib Land Transport Company and Arabian Security & Safety Services Co. Ltd (AMNCO). It also planned to acquire assets in Dar Al Abbar Ltd., Abdulrahman Abdullah Abbar and Sons Ltd. and Abdullah Abbar & Sons Cold Stores (ACS).

 

In May, BATIC revealed that it would issue over 9.33 million shares in order to finance the purchase of companies and assets, Argaam previously reported.

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