GAC approves 10 economic concentration applications in April

05/05/2023 Argaam

GAC approves 10 economic concentration applications in April

Logo of General Authority for Competition (GAC)

The General Authority for Competition (GAC) showed no objection to 10 economic concentration applications in April.

 

These applications include mergers and acquisitions, as well as joint ventures.

 

In a statement, GAC said approvals were granted for acquisitions only last month after a thorough study of the market.

 

The approvals included Abdulaziz Alajlan Sons for Trading & Real Estate Investments Co.’s acquisition of a 10% stake in Second Milling Co., Innovative Union Co.’s acquisition of the Subway franchise and the assets of Shamel Food Co.’s stores.

 

Elsewhere, GAC Spokesperson, Saad Al Masoud, noted that the number of applications in April was lower compared to the previous months due to the Eid Al-Fitr holiday.

 

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