The General Authority for Competition (GAC) stated that it issued 39 no-objection decisions and two conditional approvals in the third quarter of 2023.
The authority stated that it receives economic concentration reports related to mergers, acquisitions, and joint ventures (JVs), and then studies them to issue the proper decisions. In addition, GAC studies the market and the sector in case of competition law violations or to boost competition.
GAC reviewed 39 applications that were not required to be reported, while nine other applications are still under study.
The authority added that the acquisition applications reached 36, representing 93% of the total number of approved applications.
Meanwhile, JV applications amounted to three, dominating 7% of the total.
Sector-wise, information and communications technology as well as manufacturing came first with eight applications, or 20% of the total number.
Foreign entities dominated the largest number of economic concentration applications in Q3, reaching 62% of the total.
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