CMC approves acquisition of Gulf Baader Capital

Muscat: The Competition Protection and Monopoly Prevention Centre (CMC) approved the acquisition of Gulf Baader Capital Markets (GBCM) by Ubhar Capital.

This is in compliance with provisions of the Competition Protection and Monopoly Prevention law issued by Royal Decree No 67/2014 and specifically Article 11 of the law.

The approval was issued in cooperation with Capital Market Authority (CMA) which approved the acquisition earlier.

Economic concentration is any act resulting in the partial or whole transfer of the equity for assets, shares, dividends, interests, rights or obligations assumed by any person towards another, or the establishment of consortiums, mergers, consolidation of two or more than managements within one joint management, in such manner that the same directly or indirectly render such person or group of people in a dominant and controlling position.

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