Saudi competition authority signs off BinDawood’s acquisition of e-commerce platform

RIYADH: Saudi retailer BinDawood Holding Co. has received approval by the General Authority for Competition to acquire a 62 percent stake in e-commerce platform International Applications Trading Co.

BinDawood, through its fully-owned unit Future Tech Retail, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co., according to a bourse filing.

The move comes in a bid to strengthen the company’s position in the e-commerce sector and enhance its omnichannel presence.