BinDawood Holding subsidiary gets GAC nod to acquire 62% stake in International Applications

23/06/2022 Argaam
BinDawood Holding’s headquarters

BinDawood Holding’s headquarters

BinDawood Holding Co. announced that it received the approval of the General Authority for Competition (GAC) to acquire a 62% stake in International Applications Trading Co. (IATC) through its fully-owned subsidiary, Future Technology Retail.

 

In a statement to Tadawul, the company said the transaction is subject to completion of other customary conditions, in accordance with the terms of the agreement.

 

The company will announce any material developments in this regard.

 

In March, BinDawood Holding announced that Future Technology Retail signed a sale and purchase agreement with Amwaj Real Estate Co. Ltd. and First Commercial Application Co. to acquire their 62% stake in IATC, according to Argaam's data.

 

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