Saudi competition authority rejects GASCO’s bid to acquire 55% stake in Best Gas Carrier

Follow-ups -eshrag News:

Thu, 2022-06-16 11:20

RIYADH: Saudi Arabia’s General Authority for Competition has rejected National Gas and Industrialization Co.’s, or GASCO’s, acquisition deal with Best Gas Carrier Co., a bourse filing revealed.

Earlier in February, Saudi-listed GASCO signed a deal to invest SR29 million ($7 million) and take a majority stake of 55 percent in Best Gas Carrier.

Best Gas Carrier operates by purchasing gas-filled and empty cylinders from GASCO and reselling them to end-users.

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