23% Higher than Q2 2021, GAC Approves 43 Economic Concentration Applications in Q2 2022

The General Authority for Competition revealed the economic concentration applications received in Q2 2022, on which GAC issued (43) No Objection decisions this year in Q2 with a 23% increase compared to Q2 2021. The Authority receives economic concentration notifications (mergers, acquisitions, joint ventures) to review them and issue necessary resolutions. GAC is also concerned with conducting market and sectorial studies in cases of Competition Law violations, and promoting competition in the sectors.

According to GAC, the Authority issued (43) approvals on economic concentration transactions during Q2 and issued one rejection decision on an economic concentration transaction. Out of the total number of economic concentration applications received by the Authority, GAC also reviewed (23) Applications that required no notification and there are still (9) applications under study. Acquisition applications got the lion’s share on which GAC issued a no objection certificate reaching (37) application out of (43) of the total applications representing 86%, whereas joint ventures reached (6) applications. GAC did not receive any merger application during Q2.

By sector, Information and communications is leading by (15) application represented by 30% of the total applications followed by manufacturing sector by (6) applications, then wholesale & retail trade and car repair by (4) applications representing 14% and 9% respectively of the total applications.

The spokesperson for The General Authority for Competition, Mr. Saad Almasaud, stated that the economic concentration applications from foreign undertakings had the largest share of the total applications representing 61% of the applications received by GAC in Q2 2022.