RIYADH: Saudi Arabia’s General Authority for Competition, or GAC, has given the go ahead for the acquisition of UK's Arena Events Group by two GCC holding firms.

The approval entails that Dubai-based International Holding Co., also known as IHC, and Saudi Tasheel will purchase shares in the UK-listed group, according to a statement by GAC.

The transaction will take place through an affiliate of both companies, called Theta Bidco Ltd and based in London.

Established in 1761, Arena Events provides event solutions and services, offering event venues for a variety of occasions.

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