Saudi Arabia: Issued GAC Ruling Blocking Proposed Acquistion of The Chefz by Delivery Hero

On 5 December 2021, the General Authority for Competition (GAC) issued a ruling in its investigation of a proposed acquisition of The Chefz SPV LTd. by Delivery Hero FZ-LCC. The Chefz SPV Ltd. is a Saudi food delivery application, while Delivery Hero FC-LZZ is a German food delivery application. The GAC revealed that a "rejection certificate with respect to the completion of the economic concentration" was issued. According to the GAC, both parties failed to submit the required documents needed to accurately evaluate the merger's influence on digital competition. Therefore, Delivery Hero FC-LZZ may not purchase the Chefz SPV Ltd.