bp: EU clears acquisition of Lotos-Air BP Polska
(CercleFinance.com) - Under EU Merger Regulations the European Commission has cleared the acquisition of joint control of Lotos-Air BP Polska (Lotos) of Poland by Aramco Overseas Company (AOC) of the Netherlands and BP Europa of Germany.
Lotos is active in the sale of jet fuel and aviation gasoline, as well as in the refuelling of aircraft at airports in Poland.
Meanwhile, AOC is a subsidiary of Saudi Arabian Oil Company and provides financial, technical and administrative support services to the company.
BP is a subsidiary of BP plc. of the UK, mainly active in the supply of road fuel through its own service stations and dealer networks in Poland.
The Commission concluded that the proposed acquisition would not give rise to any competition concerns given the absence of horizontal overlaps and vertical relationships between the companies' activities.
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Lotos is active in the sale of jet fuel and aviation gasoline, as well as in the refuelling of aircraft at airports in Poland.
Meanwhile, AOC is a subsidiary of Saudi Arabian Oil Company and provides financial, technical and administrative support services to the company.
BP is a subsidiary of BP plc. of the UK, mainly active in the supply of road fuel through its own service stations and dealer networks in Poland.
The Commission concluded that the proposed acquisition would not give rise to any competition concerns given the absence of horizontal overlaps and vertical relationships between the companies' activities.
Copyright (c) 2022 CercleFinance.com. All rights reserved.