Budget Saudi gets GAC nod on AutoWorld acquisition

Logo of United International Transportation Co. (Budget Saudi) 

United International Transportation Co. (Budget Saudi) obtained on Feb. 11 the approval of the General Authority for Competition (GAC) to fully acquire Al-Jazira Equipment Co. Ltd. (AutoWorld).

In December 2023, Budget Saudi signed a share swap agreement with Saudi Economic and Development Holding Co. (SEDCO) to buy the latter’s entire stake in AutoWorld, amounting to 300,000 shares, Argaam earlier reported.