GAC Approves Al-Futtaim’s Acquisition of 49.95% Stake in Cenomi Retail
The General Authority for Competition (GAC) in Saudi Arabia has approved the acquisition by Al-Futtaim Retail of a 49.95% stake in Cenomi Retail (Fawaz Abdulaziz Alhokair Co.) through a private share purchase transaction.
The approval follows a notice received by Cenomi Retail from its major shareholders — Fawaz, Abdul Majeed, and Salman Alhokair, along with Saudi FAS Holding Co. and FAS Real Estate Co. — confirming the signing of a Share Purchase Agreement (SPA) with Al-Futtaim Retail on July 18, 2025.
As per the agreement, the selling shareholders will transfer approximately 57.33 million shares, representing 49.95% of the company’s capital, for a total of $672 million at a price of $11.73 per share. The deal will be executed through a private acquisition mechanism in line with the SPA’s terms.
Al-Futtaim Retail, headquartered in the UAE, has over 50 years of experience in the retail sector and operates more than 300 stores across 10+ countries, covering segments such as fashion, furniture, electronics, and homeware.
