Latest news with #GeneralAuthorityforCompetition
Argaam
19-03-2025
- Business
- Argaam
GAC seeks public input on draft to enhance competition in food delivery platforms sector
The General Authority for Competition (GAC) invited public input on the draft guideline to enhance competition in the food delivery platforms sector through the Istitlaa platform, with voting set to close on April 12. The project aims to regulate the activities of food delivery platforms in accordance with the Competition Law, its executive regulations, and the rules and instructions designed to ensure the protection and promotion of fair competition. It also seeks to combat and prevent monopolistic practices that may affect legitimate competition or harm consumer interests. According to the project, the abuse of a dominant position by food delivery apps is prohibited, including practices such as predatory pricing, selling below cost, discrimination between sellers, exclusive contracts between platforms and sellers, and self-preferencing that disrupts fair competition principles and excludes competitors.
Arab News
06-03-2025
- Business
- Arab News
Saudi Arabia's M&A market sees 63% rise in Feb
RIYADH: Saudi Arabia approved 26 mergers and acquisitions applications in February, a month-on-month surge of 62.5 percent, highlighting a competitive business climate. The Kingdom's General Authority for Competition confirmed the agreements, spanning acquisitions, mergers, and joint ventures, following comprehensive market assessments to ensure fair competition. Acquisitions led the approvals, comprising 73 percent of the total, followed by joint ventures at 19 percent, and mergers at 8 percent, according to GAC data. Saudi Arabia mandates economic concentration approvals for M&A deals to prevent monopolies and market distortions. The rise in approvals aligns with GAC's broader strategy to foster fair competition, combat anti-competitive practices, and enhance market efficiency, ultimately boosting investor confidence. Among the approved acquisition requests, Spark Education Platform secured all stakes in three educational institutes in the UAE and Bahrain. The mergers category included UAE-based Aurora Spirit's consolidation with US-based Berry Global, while London-based law firm Herbert Smith Freehills merged with US-based Kramer Levin. In the joint ventures segment, Ajlan & Bros Mining partnered with Moxico KSA Ltd. to launch a zinc-copper project in Khnaiguiyah, southwest of Riyadh. Additionally, Abu Dhabi Future Energy Co. formed a joint venture with France's EDF International SAS and Nesma Co. to develop a solar energy project in Madinah. This follows a surge in mergers and acquisitions across the country, with 202 economic concentration requests approved in 2024 — the highest on record — marking a 17.4 percent increase and underscoring the Kingdom's efforts to enhance its competitive business environment. The Kingdom's M&A momentum stands in contrast to the global downturn in deal-making. A December report from GlobalData indicated that worldwide deal volume fell 8.7 percent year on year in the first 11 months of 2024, with the Middle East and Africa region experiencing a relatively modest 5 percent decline. GAC continues to evaluate economic concentration requests — including mergers, acquisitions, and joint ventures — to safeguard competitive market dynamics. It also monitors various sectors for potential competition law violations, ensuring a level playing field for businesses.
Arab News
06-03-2025
- Business
- Arab News
Saudi Arabia's M&A market gains momentum with 26 approvals in Feb
RIYADH: Saudi Arabia approved 26 mergers and acquisitions applications in February, a month-on-month surge of 62.5 percent, highlighting a competitive business climate. The Kingdom's General Authority for Competition confirmed the agreements, spanning acquisitions, mergers, and joint ventures, following comprehensive market assessments to ensure fair competition. Acquisitions led the approvals, comprising 73 percent of the total, followed by joint ventures at 19 percent, and mergers at 8 percent, according to GAC data. Saudi Arabia mandates economic concentration approvals for M&A deals to prevent monopolies and market distortions. The rise in approvals aligns with GAC's broader strategy to foster fair competition, combat anti-competitive practices, and enhance market efficiency, ultimately boosting investor confidence. Among the approved acquisition requests, Spark Education Platform secured all stakes in three educational institutes in the UAE and Bahrain. The mergers category included UAE-based Aurora Spirit's consolidation with US-based Berry Global, while London-based law firm Herbert Smith Freehills merged with US-based Kramer Levin. In the joint ventures segment, Ajlan & Bros Mining partnered with Moxico KSA Ltd. to launch a zinc-copper project in Khnaiguiyah, southwest of Riyadh. Additionally, Abu Dhabi Future Energy Co. formed a joint venture with France's EDF International SAS and Nesma Co. to develop a solar energy project in Madinah. This follows a surge in mergers and acquisitions across the country, with 202 economic concentration requests approved in 2024 — the highest on record — marking a 17.4 percent increase and underscoring the Kingdom's efforts to enhance its competitive business environment. The Kingdom's M&A momentum stands in contrast to the global downturn in deal-making. A December report from GlobalData indicated that worldwide deal volume fell 8.7 percent year on year in the first 11 months of 2024, with the Middle East and Africa region experiencing a relatively modest 5 percent decline. GAC continues to evaluate economic concentration requests — including mergers, acquisitions, and joint ventures — to safeguard competitive market dynamics. It also monitors various sectors for potential competition law violations, ensuring a level playing field for businesses.
