Riyadh – Mubasher: The Saudi General Authority for Competition (GAC) said that National Agricultural Development Company (NADEC) had submitted a request to obtain its approval on the economic concentration stemming from the dairy firm's acquisition of Al Safi Danone.
The related parties are required to submit their opinions on finalising the economic concentration process within 15 days, according to GAC’s statement on its official Twitter account.
In March 2018, NADEC had signed a final agreement to take over 100% of Al Safi Danone Co.
By 10:55 am Saudi time, NADEC’s stock rose 0.32% to SAR 37.45.
