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Afaq Energy's Acquisition of Advanced Gas Approved Under Competition Safeguards
The Competition Protection Authority in Jordan has approved the acquisition of Al-Mutakaddima Gas Company by Afaq Energy, provided that a set of measures are adhered to in order to protect the market and maintain competition. The conditions included prohibiting the granting of payment facilities exceeding 30 days, banning the offering of direct or indirect discounts, and refraining from free network installations or exclusive offers for small projects. Additionally, there must be full administrative separation between the companies, with no resources shared for mutual benefit. This decision comes within the framework of Competition Law No. 33 of 2004, aiming to prevent monopolies and ensure the entry of new competitors, with penalties for violations reaching up to 50,000 Jordanian dinars.
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