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RIYADH: The UAE’s Abu Dhabi National Oil Co. (ADNOC) Distribution on Wednesday won approval to rebrand 15 petrol stations in the Eastern Province as ADNOC International, according to sources at Saudi Arabia’s Public Authority for Parameter.
The decision by the authority followed an investigation into whether the deal complied with competition rules in the Kingdom. The sources added that the Competition Authority is currently studying a number of applications for similar establishments that wish to acquire fuel stations in the Saudi market.
At the end of December 2020, ADNOC Distribution announced it planned to acquire 15 service stations in Saudi Arabia, with a purchase value of $10 million.