The Kuwait Competition Protection Authority has announced that it has received a joint application from Kuwait Finance and Investment Company (KFIC) and OTC 677 Rasameel Investment Company to proceed with an economic concentration through a merger by absorption.

The Authority clarified that the application is submitted in accordance with the provisions of Law No. (72) of 2020 on the Protection of Competition and Article (83) of the Executive Regulations issued by Resolution No. (14) of 2021) of 2021 and its amendments. The article states:

“Any interested party may submit a substantiated objection to the economic concentration request within fifteen (15) days from the date of notification or publication.”

Accordingly, the Authority has called on all concerned parties to submit any justified objections regarding the proposed economic concentration within 15 days from the date of this announcement.