TAQAT announces GAC approval for acquisition of Bayan Transport

04:41 PM (Mecca time) Argaam- Nomu
TAQAT says the potential takeover of Bayan Transport aligns with its long-term strategy to boost its market presence

TAQAT says the potential takeover of Bayan Transport aligns with its long-term strategy to boost its market presence

TAQAT Mineral Trading Co. announced the General Authority for Competition’s (GAC) approval on its planned acquisition of Bayan Transport Trading Co.

 

In a statement to Tadawul today, Oct. 6, the company said the final agreement for that transaction was signed after meeting all relevant regulatory requirements.

 

TAQAT noted that the potential acquisition is part of its expansion strategy to strengthen its presence in the transport and logistics sector, in line with its long-term strategic objectives.

 

According to data available with Argaam, TAQAT signed a non-binding memorandum of understanding (MoU) in May 2024 to acquire Bayan Transport. The MoU has been extended several times.

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