Saudi Arabia’s City Cement Co (CCC) has reached an agreement with Umm Al-Oura Cement Co (UACC) to acquire its entire stake by issuing new shares in the company. A few days ago, the Saudi General Authority for Competition issued a non-objection on the completion of the economic concentration resulting from the transaction. UACC had a market share in the domestic cement sales of about 3.46% in November last year.