Competition Council is examining the economic concentration operation conducted by Agip Romania by the takeover of 10 filling stations and adjacent assets held by MOL Romania Petroleum Products, the competition watchdog announced.
“Under the provisions of Compeitition law, the economic concentration operations that exceed the value threshold stated in the regulation shall be subject to examination and notified to the Competition Council. The procedures are conducted if the combined turnover of economic agents involved in an economic concentration process exceeds the equivalent of 10,000,000 euros and if there are at least two economic agents in Romania with an individual turnover higher than 4,000,000 euros”, reads the press release remitted by the Competition Council.
The deal shall have 30 days for enquiry since the notification enclosed all necessary details. MOL Romania is currently holding a distribution network of 132 filling stations in Romania.
Agip is a registered trademark of Eni S.p.A, and it is considered to be one of the leading oil companies in the world. Eni group is actively involved in over 70 markets across the world, and has about 76,000 employees.
MOL Romania is part of Hungarian-based MOL Group. The market capitalization was over 14.5 bln dollars at June 30, 2008. With 15,000staff around the world, the company has a wide presence in Europe, Middle East, Africa and CSI countries. MOL holds three refineries in Hungary, Slovakia and Italy.
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