Press release from the Competition Council regarding the economic concentration project concerning the exclusive takeover by the Public Investment Fund (PIF) of the company ‘MBC Group Company’ through the acquisition of 54% of its share capital and associated voting rights

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the ‘summary of the operation’ below, containing the information provided by the parties.

This information was prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• The acquirer: Public Investment Fund (PIF);
• The target: ‘MBC Group Company’.

Nature of the operation

• Exclusive takeover.

Economic sectors concerned

• Media and audiovisual sector.

Deadline for interested third parties to submit their observations

• 07 days from the date of publication of this press release, i.e. July 25, 2025.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration operation concerning the exclusive takeover by the Public Investment Fund (PIF) of the company ‘MBC Group Company’ through the acquisition of 54% of its share capital and associated voting rights.

The Public Investment Fund (PIF) is the sovereign fund of the Kingdom of Saudi Arabia, governed by the law on the public investment fund, published under Royal Decree No. M/92 of April 17, 2019, with financial autonomy and independence in the management of its investments and daily operational activities. PIF holds direct and indirect investments in a number of sectors in Saudi Arabia and worldwide.

‘MBC Group Company’ is a publicly traded joint-stock company in the Kingdom of Saudi Arabia, under Saudi law, registered in the Commercial Register under number 1010876295 and headquartered at 3237, Abu al-Qasim al-Majriti, Diplomatic Quarter, 6501, Riyadh, Kingdom of Saudi Arabia. ‘MBC Group Company’ is a media group mainly active in the MENA region, the United States, and Europe, and operates a set of television channels, radio stations, and digital platforms.

 

Done in Rabat, July 18, 2025.