SVCP files request to acquire Acwa Pipe

Saudi Vitrified Clay Pipe (SVCP) has filed a request to Saudi Arabia’s Council of Competition (CoC) to acquire Arabian Company for Water Pipes (Acwa Pipe) for SAR 160 million, the council has said.

The news comes after the two firms signed a memorandum of understanding (MoU) on the proposed deal in 2011, an agreement which was extended several times.

The CoC has called on the related parties to submit their opinion on completing the economic concentration process.

Riyadh-based SVCP supplies piping infrastructure for residential and industrial construction. Acwa Pipe is a Saudi-based manufacturer of water, sewage, and industrial pipes.