Saudi Arabia’s GAC approves acquisition of chocolate seller Bostani

RIYADH: The General Authority for Competition has issued a no objection certificate to the acquisition of the chocolate manufacturer and seller Hala Bostani Trading Co. by Derayah Third Investment Co. and Derayah First Investment Co.

Derayah Third Investment Co. and Derayah First Investment Co. will acquire 24 percent and 6 percent of the firm’s total shares, respectively, it said in a statement. 

Since the beginning of 2021, the authority has approved 101 acquisitions which is the highest number of approved acquisitions within one year that the authority has achieved since its establishment.