General Authority for Competition approves Chemanol acquisition of 80% of Global Company for Chemical Industries Ltd shares

Methanol Chemicals Company (Chemanol) announced issuance of the General Authority for Competition’s approval on a transaction to acquire 80% of Global Company for Chemical Industries Ltd. (GCI). Noting that financial and legal due diligence and the outcomes of negotiations with lenders and creditors are still ongoing.

This came in reference to the announcement of the Methanol Chemicals Company “Chemanol” published on Tadawul website dated 9/06/2023 AD regarding its signing of a binding offer to acquire 80 % of Global Company for Chemical Industries Ltd. (GCI).