Egypt’s ECA approves 3 major acquisition requests

The Egyptian Competition Authority (ECA) on Sunday endorsed the notification file presented by TCL China Star Optoelectronics Technology Co. Ltd. for its acquisition of 80 per cent of the shares of LG Display China Co. Ltd.

This approval allows the acquiring entity to have full control over the target entity. The authority received the entire file on December 5, 2024, according to an official statement published by the authority.

ECA also approved Stora Enso Oyj’s acquisition of 100 per cent of Junnikkala Oy’s shares, granting sole control to the acquiring entity. The authority received the notification file on 24 December 2024.

The authority agreed on Tanmiya Capital Ventures Fund II Cooperative U.A.’s acquisition of 21 per cent of Vital Pharma Connections’ shares, granting joint control. The authority received the file on 25 December 2024.

ECA is responsible for examining economic concentration notifications submitted by concerned parties to assess whether the concentration would limit, restrict, or harm competition.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama