Saudi competition regulator approves 22 acquisitions in Q1

The manufacturing industry recorded most activity followed by the mining and quarrying sector

  
A Saudi trader monitors stocks at the Saudi stock market in Riyadh, Saudi Arabia, January 8, 2020.

A Saudi trader monitors stocks at the Saudi stock market in Riyadh, Saudi Arabia, January 8, 2020.

REUTERS/Ahmed Yosri
 
RIYADH: The General Authority for Competition in Saudi Arabia approved 22 applications for corporate acquisitions in the first quarter of the year, Asharq Business reported.

The manufacturing industry recorded most activity followed by the mining and quarrying sector, it said, citing officials.

The total number of overall applications received by the authority during this period reached 71, compared to 31 for the same period in 2020.

Growing familiarity with the competition system and the increased commitment of local and foreign establishments helped to spur activity, it said.

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