Khaberni - The Ministry of Industry, Trade, and Supply approved two requests from local companies to acquire other companies in the local market after a thorough examination and assessment of the impacts on local market competition.
The ministry said in a press release on Wednesday, "The ministry's competition directorate received two requests related to Afaq for Energy's acquisition of Central Gas Technology Co., and the acquisition process of Manaseer Industrial Complex acquiring 50.28% of the shares of Jordan Cement Factories."
The ministry added that after studying the requests, the approval was given for the economic concentration process submitted by Afaq for Energy, which involves their purchase of (100%) of the partner shares constituting the capital of Central Gas Technology Co. LLC, which operates in the central distribution of liquefied petroleum gas in the Kingdom.
The ministry concluded that "the operation will not result in the creation of a dominant position harmful to competition, or change the market structure of the centralized distribution of liquefied petroleum gas in the Kingdom. It is unlikely to cause damage to current or potential competitors in the market, and the operation will have positive economic effects including enhancing domestic investment by injecting new investments in the Jordanian energy sector, boosting investor confidence in the stability of the sector and its ability to grow sustainably, creating more efficient supply chains, improving the end consumer experience, and creating new jobs in the areas of transportation, operation, maintenance, and technical services through the expansion of company operations."
The ministry affirmed that after the directorate's study of the approval request for the economic concentration process submitted by Manaseer Industrial Complex, represented by the purchase of 100% of the shares of Xsenoria Limited and shares of Ondaro Limited, which are companies registered under the laws of Cyprus, and which will own 50.28% of the shares of Jordan Cement Factories according to the agreement signed with Lafarge Holcim, the owner of the shares mentioned in Jordan Cement Factories before completing the operation, the directorate concluded that the operation will neither achieve nor reinforce a dominant position harmful to competition in the black cement manufacturing market. It is unlikely to result in damages to the current competitors in the local market, and the operation will have positive economic effects represented by enhancing domestic investment through the injection of new investments in the sector, optimal use of available local resources which contributes to increasing exports and ability to compete with regional companies with growing external demand, in addition to creating direct and indirect job opportunities as a result of the expansion of company operations.
In light of the study results of these requests, the Minister of Industry, Trade, and Supply issued decisions to approve completing these operations based on the authority stipulated in Article (11/A/1) of the Competition Law No. (33) of 2004 and its amendments.
The approval came from the role of the competition directorate in the Ministry of Industry, Trade, and Supply in monitoring and regulating economic concentration operations such as mergers, acquisitions, and other forms defined by the competition law.
It is worth mentioning that the ministry dealt during the current year 2025 with (38) cases of mergers and acquisitions according to the necessary legal requirements and taking appropriate actions regarding them.
