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وكالة الانباء الاردنية
Afaq Energy’s M&A approval under competition rules
The Jordanian Minister of Industry, Trade, and Supply, Eng. Yareb Qudah, issued a decision, supported by a comprehensive study from the Competition Protection Department, to approve conditionally the acquisition of all shares of "Alfaaq for Energy" by "Almutaqaddima for Central Gas." This step aims to protect competition in the liquefied petroleum gas distribution market. The decision requires adherence to certain regulatory and behavioral measures, including not granting customers payment periods exceeding 30 days, banning gifts and undisclosed discounts, and preventing offers based on network replacement without covering associated costs. It also mandates complete administrative separation between the companies. Additionally, the decision emphasizes returning the market to its previous state in case of any violations, with fines imposed on offenders, in order to safeguard the market, prevent the exclusion of small companies, and restrict entry of new competitors, all while maintaining the approved prices that protect consumers.
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