General Authority for Competition Approves Economic Concentration Between Umm Al-Qura Cement and City Cement

Umm Al-Qura Cement Company announced that the General Authority for Competition has issued its non-objection to the completion of the economic concentration resulting from the securities exchange transaction with City Cement Company.

The company noted that the transaction remains subject to several conditions, including approvals from the Capital Market Authority and the Saudi Exchange, the requisite approval of shareholders in the extraordinary general assemblies of both Umm Al-Qura Cement and City Cement, and other conditions outlined in the Implementation Agreement announcement.