Saudi Competition Authority approved 16 acquisition and ‎merger requests during June

The General Authority for Competition announced the decisions issued in the economic concentration applications for the month of June 2023 AD, as the authority issued 16 no-objection decisions.

The Saudi Authority receives reports of economic concentration (mergers and acquisitions, and joint ventures), then it studies them and issues the necessary decisions. It is also concerned with studying the market and sectors in the event of violations of the competition law, or to enhance competition in the sectors. The authority issued its decisions after studying the relevant markets

According to the authority, acquisition requests represented the highest share of approved concentration requests in June, at 81%, while joint venture requests represented 12.5% of the approved requests, and merger requests represented 6.5% of the approved requests.

Among the approvals issued by the General Authority for Competition last June was the establishment of a joint venture between (Saudi Aramco Development Company) and (Excel Investment Netherlands B.V.) for logistics services and the acquisition by (Saudi Electronic Games Holding Company) of all shares in (Scopply Inc.), the merger of (Arabian Shield Cooperative Insurance Company) with (Al-Inmaa Tokio Marine Company), and the acquisition by (Taiba Investment Company) of all shares of (Dur Hospitality Company).