Tawasul
Mubasher TV
Contact Us Advertising   العربية

ADNOC Distribution receives approval to acquire 15 stations in Saudi Arabia

ADNOC Distribution receives approval to acquire 15 stations in Saudi Arabia
The 15 service stations are owned by First Mazaya Company
ADNOC Distribution
ADNOCDIST
-0.45% 4.40 -0.02

Mubasher: Saudi Arabia's General Authority for Competition has issued a no-objection certificate for Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) to acquire 15 service stations in the Eastern Province in Saudi Arabia.

The 15 service stations are owned by First Mazaya Company, one of the leading companies in Saudi Arabia that manage and operate fuel stations, the authority announced on Wednesday on its official Twitter account.

It is noteworthy to mention that in late December, ADNOC Distribution has entered into a definitive agreement to acquire 15 service stations in Saudi Arabia in exchange for AED 36.7 million, raising the company's stations in Saudi Arabia to 17.