The General Authority for Competition (GAC) issued today, June 8, 2021, a no-objection certificate for UAE’s ADNOC Distribution to acquire 20 fuel stations in Saudi Arabia.

 

Of the 20 fuel stations, four are owned by Magdala Homes Contracting Co. Ltd. and 16 are owned by Fuel Petroleum Services Co. Ltd.

 

The competition authority conducted a detailed study for the fuel stations market in the Kingdom prior to issuing the decision. It ensured that the acquisition would not raise any concerns about fair competition in the fuel sector in the Saudi market.

 

In May 2021, ADNOC Distribution obtained GAC’s approval to acquire 15 fuel stations owned by Mazaya Fuel in Eastern Province.

 

Accordingly, the total number of fuel stations acquired by ADNOC in 2021 stands at 35.

 

For More M&As

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Related News

UAE's ADNOC gets Saudi competition authority's nod to acquire 15 fuel stations

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request