Al-Baha gets competition council’s approval for Al-Marakez acquisition

The Saudi Council of Competition approved on Tuesday Al-Baha Investment Company’s full acquisition of Al-Marakez Al-Raqia Ltd., Al-Baha  said in a filing to Saudi Arabia’s bourse, Tadawul.

Al-Baha will proceed with the transaction after completing the due diligence process and evaluating the target company, as well as obtaining approvals from its general assembly.

Last month, the company signed a memorandum of understanding to fully acquire Al-Marakez Al-Raqia. It also appointed Al-Dukheil Financial Group as financial adviser for the process.