GAC Figures Show Record Numbers of Economic Concentration Requests in Q3 of this Year

The General Authority for Competition (GAC) issued figures for the third quarter of 2024, which show 60 no-objection decisions to economic concentration requests, the highest number in a single quarter in the authority's history. The figure marks a 53% increase over the same period in 2023. GAC handles reports concerning economic concentration, including mergers, acquisitions, and joint ventures. It examines cases, issues decisions, and monitors the market to address competition violations and promote fair practices. During the third quarter, GAC classified 28 requests as non-reportable, while 12 remain under review. Acquisitions dominated the approved requests, making up 49 out of 60 decisions, or 82%. The remaining 11 approvals, 18%, were for joint ventures. The information and communications sector led the way with 14 requests, accounting for 23% of the total, followed by the manufacturing sector, which submitted 12 requests, representing 20% of the total. Notably, foreign establishments had most sub missions, making up 65% of the economic concentration requests processed by GAC in Q3 of 2024. Source: Saudi Press Agency