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Saudi GAC approves Alhokair’s SAR 340m acquisition of Innovative Union Company

Saudi GAC approves Alhokair’s SAR 340m acquisition of Innovative Union Company
Alhokair signed the acquisition agreement in August 2019
ALHOKAIR
4240
1.57% 29.05 0.45

Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Company (Alhokair) received the General Authority for Competition’s (GAC) approval for its acquisition of the Innovative Union Company, owned by Food and Entertainment Company. 

The deal will have no financial impact on the company, Alhokair said in a bourse filing on Thursday.

It is noteworthy that during August 2019, Alhokair signed a purchase agreement to acquire 100% of the share capital of Innovative Union Company for SAR 340 million.