The Competition Protection Agency  ( CPA ) announced that OTC 403 Al-Rashed Group Holdings Company , which owns shares or stocks in Kuwaiti and non-Kuwaiti companies, and participates in the management of companies in which it owns shares or stocks, and the Kuwait Gypsum Manufacturing and Trading Company, which manufacture and produce of gypsum and gypsum boards, has submitted a request for approval to complete the economic concentration process for Al-Rashed Holding Company to acquire 100% of the capital of the Kuwait Gypsum Manufacturing and Trading Company.

This is in accordance with Law No. (72) of 2020 regarding the protection of competition and Article (83) of its executive regulations issued by Resolution No. (14) of 2021 and its amendments, which stipulates that “any interested party may submit to the Authority a reasoned objection to the economic concentration request within a period not exceeding (15) days from the date of notification or publication”.