ADNOC Distribution receives approval to acquire 20 stations in Saudi Arabia

Mubasher: Saudi Arabia's General Authority for Competition (GAC) has issued a no-objection certificate on two economic concentration processes for Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) to acquire 20 fuel service stations in Saudi Arabia.

ADNOC Distribution signed an agreement with Masaken Al Majdal Contracting Limited Company (reben) to acquire four service stations in Saudi Arabia, Saudi GAC announced on Tuesday on its official Twitter account.

Meanwhile, an economic concentration process was reached between the Emirati company and Fuel Petroleum Services Company to buy 16 service stations.

It is noteworthy to mention that in early May, Saudi Arabia's GAC issued a no-objection certificate for ADNOC Distribution to acquire 15 service stations in the Eastern Province in Saudi Arabia.

Mubasher Contribution Time: 08-Jun-2021 11:56 (GMT)
Mubasher Last Update Time: 08-Jun-2021 11:56 (GMT)