Tuesday, August 19, 2008

Antitrust watchdog reviews acquisition of Opet Aygaz by Hellenic Petroleum.

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Antitrust watchdog reviews acquisition of Opet Aygaz by Hellenic Petroleum. Hellenic Petroleum Bulgaria, part of the Greek energy company Hellenic Petroleum, has notified the state antitrust commission about the planned acquisition of the fuel distribution network of Opet Aygaz, a note on the website of the regulator informs. The merger is expected to affect the retail and wholesale car fuel markets, including the trade with liquefied petroleum gas. All interested parties are invited to send an opinion by the end of the week. As recalled, Eko Bulgaria , traded as Eko Elda and part of Hellenic Petroleum, informed in June that it has acquired the fuel distribution network of Opet Aygaz, controlled by the Turkish Koc Holding. The number of Eko Elda fuel stations will rise to 75 after the integration of Opet Aygas and its market share is expected to remain below 10%. The acquisition will move the Greek-owned company to the 5 th place in the local fuel trade ranking after Lukoil, Petrol, OMV, and Shell.

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Antitrust watchdog reviews acquisition of Opet Aygaz by Hellenic Petroleum.

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