Riyadh – Mubasher: Saudi Arabia’s Capital Market Authority’s (CMA) board issued a resolution to approve the updated merger and acquisition regulations, which will come into force as of the date of their publication.

The updated regulations took into account the comments and observations received from stakeholders and aim to “regulate the mergers and acquisitions,” the Saudi Gazette reported on Sunday, citing a statement by the Saudi CMA.    

The authority stated that the updated regulations include the acquisition through the general assembly regulation, “the controls over the relevant sales or purchases, the approach, the mandatory offers and disclosure requirements”.

The updates also incorporate a regulatory framework for bourses and a legal framework for private sale and purchase transactions, which involves the acquisition of “10% or more in a listed company’s share capital.”