Press release regarding the meeting of the Permanent Commission of the Competition Council – held on Thursday, September 19, 2024

In accordance with the provisions of Article 14 of Law No. 20-13 on the Competition Council, as amended and supplemented, the Permanent Commission of the Council held a meeting on Thursday, September 19, 2024 at 09:30, under the chairmanship of Mr. Ahmed Rahhou, President of the Competition Council, to examine the files submitted to it by the Council’s Instruction Services.

At the beginning of its work, the Permanent Commission approved the minutes of its meeting held on September 12, 2024.

The Permanent Commission then decided to authorize the following two economic concentration operations:

• Undertaken by the company “Pick Albatros Holding for Financial Investments”, to acquire exclusive control of the company “Palmassets SA”, through the acquisition of 100% of its share capital and voting rights thereof;
• Acquisition by Abu Dhabi Developmental Holding Company PJSC (“ADQ”) SA, through its indirectly and wholly owned subsidiary, ADQ CV Future Holdings I Ltd, of joint control of Sotheby’s Holdings UK LtD.