Logo ofThe General Authority for Competition (GAC)
The General Authority for Competition (GAC) issued 22 non-objection decisions on economic concentration applications during December 2025.
In a statement, the authority said the decisions included the establishment of a joint venture (JV) between Ajlan Bros Co. and Digital QFS to establish a new digital bank.
This was in addition to a JV between Almajdouie Motors Co. Ltd and Girnar Software Private Ltd to provide digital services for the automotive sector.
The applications also included a JV between Al-Ayuni Investment Contracting Co. and Ramco Trading Contracting Co. to provide construction and building services, as well as a JV between Indra Sistemas S.A. and EDGE Group PJSC to develop, manufacture, and sell military radar systems.
The authority added that the decisions also included approvals for GFH Financial Group’s full acquisition of Harris Pye Engineering Group Ltd; Nama United Financing Co.’s acquisition of 100% of Tawkelat Finance Co.; United Fuel Co. Ltd’s acquisition of a 75% stake in Petrostar Aviation Co. Ltd; and Alkifah Holding Co.’s full acquisition of Jussur Emdad Human Resources Co. and MaSa Services Company for OM.
Logo ofThe General Authority for Competition (GAC)
The General Authority for Competition (GAC) issued 22 non-objection decisions on economic concentration applications during December 2025.
In a statement, the authority said the decisions included the establishment of a joint venture (JV) between Ajlan Bros Co. and Digital QFS to establish a new digital bank.
This was in addition to a JV between Almajdouie Motors Co. Ltd and Girnar Software Private Ltd to provide digital services for the automotive sector.
The applications also included a JV between Al-Ayuni Investment Contracting Co. and Ramco Trading Contracting Co. to provide construction and building services, as well as a JV between Indra Sistemas S.A. and EDGE Group PJSC to develop, manufacture, and sell military radar systems.
The authority added that the decisions also included approvals for GFH Financial Group’s full acquisition of Harris Pye Engineering Group Ltd; Nama United Financing Co.’s acquisition of 100% of Tawkelat Finance Co.; United Fuel Co. Ltd’s acquisition of a 75% stake in Petrostar Aviation Co. Ltd; and Alkifah Holding Co.’s full acquisition of Jussur Emdad Human Resources Co. and MaSa Services Company for OM.
