GDPR

Processing of your personal data

This website might use cookies or other personal data for the purposes of the functioning of the website. Some of these cookies are mandatory, while the other ones only help us to improve your browsing experience and get information on how the website is used.

Privacy message

TWO SAUDI ARABIAN KINGDOM COMPANIES RECEIVED PERMISSION TO CARRY OUT A MERGER

17 01 2025

Saudi Arabian Oil Company will be able to acquire a 22.5% share in Rabigh Refining and Petrochemicals Company (bringing its total to 60%) and acquire sole control of the company. The transaction between the two Saudi Arabian companies was cleared by the Competition Council. 

The notification of intended concentration was received on 19 December 2024. Having assessed the circumstances of the transaction, the Competition Council has concluded that the proposed concentration will not lead to the creation or strengthening of a dominant position or to a significant impediment to competition in the relevant markets.

Main activities of Saudi Arabian Oil Company are the exploration, prospecting, drilling and production of hydrocarbons, and the processing, production, refining and marketing of these materials. In Lithuania, it sells petrochemical products such as polyethylene and polypropylene.

Rabigh Refining and Petrochemical Company is engaged in the development, construction and operation of an integrated refining and petrochemical complex, including the production and sale of refined and petrochemical products such as acetone, benzene and gasoline. 

Rabigh Refining and Petrochemical Company does not have any branches or assets in Lithuania and does not sell its products directly but generates revenues indirectly through affiliated companies which sell polyethylene and polypropylene produced by Rabigh Refining and Petrochemical Company in Lithuania and other countries.

The intended concentration must be notified to the Competition Council and cleared if the combined total revenues of the undertakings involved in the concentration in the last year before the merger exceed EUR 20 million and the combined total revenues of each of at least two undertakings involved in the concentration in the last year before the merger exceed EUR 2 million.

Last updated: 17 01 2025