The European Commission said on October 16 that the EC has approved, under the EU Merger Regulation, the acquisition of Inver Energy Limited of Ireland by Greenergy International Limited of the UK.
Inver is an independent importer and distributor of a range of fuel products predominantly in Ireland, where it also operates a number of retail service stations.
In the UK, Inver operates a fuel importation terminal in Cardiff, from where it supplies fuel oil, gasoil and kerosene. Greenergy is active in the importation, storage, blending and transportation of refined oil fuels to wholesale customers in the UK, and is the UK’s largest supplier of road fuels. It also produces and blends biofuels.
Brookfield Asset Management Inc. of Canada, a global asset manager, ultimately controls Greenergy. The Commission said the EC concluded that the proposed acquisition would raise no competition concerns because of the limited overlap between the companies’ activities. The transaction was examined under the normal merger review procedure.