The Saudi General Authority For Competition( GAC) Released Its Merger Control Report For Q1/2024

On 21 April 2024, the General Authority for Competition (GAC) released their first-quarter report for 2024 concerning their merger control activities. The report indicates that GAC approved 48 transactions unconditionally, issued 32 certificates of non-notification obligation, and is currently evaluating 13 pending requests. However, the report did not include any information on violation proceedings, sanctions imposed, or settlements in connection with gun jumping and failure to make notifications.

According to the report the number of transactions submitted for merger review decreased year on year during the first quarter of 2024 compared to the first quarter of 2023 by 8 requests. This trend is somewhat surprising considering the new notification thresholds introduced by the GAC in early November 2023 clarified when notification for merger control review is required. While the under the new thresholds foreign-to-foreign transactions will still be subject to a