On 16 June 2022, Saudi Arabia's General Authority for Competition announced its decision to block National Gas and Industrialization Company from acquiring a majority stake in Best Gas Carrier on the basis of vertical competition concerns. This is the first vertical merger prohibited by the GAC and the first to be prohibited on substantive grounds. Background On 15 February 2022, the Saudi-listed National Gas and Industrialization Company ("GASCO") signed an agreement to acquire 55% of Best Gas Carrier Company ("Best Gas") and later filed an Economic Concentration Notification to Saudi Arabia's General Authority for Competition ("GAC"). The total transaction value was estimated to be approximately USD 7 million (SAR 29 million), comprising the purchase price and capital investment in
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The Saudi Arabian Competition Authority blocks a partial vertical acquisition between the national gas distribution company and a gas transporter (GASCO / Best Gas)
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