The European Commission recently granted its clearance to Italian refiner Enis acquisition of ExxonMobils lubricant businesses in Hungary, the Czeck Republic and Slovakia. The acquisition was part of a deal that included ExxonMobils fuel retail operations in those countries.
The companies first informed the commission of their agreement in June. On July 24, the commission announced its decision not to contest the transaction, concluding that it would not impede effective competition in lubricants or other markets where the ExxonMobil businesses participate.
The commission found that due to limited horizontal overlaps between the parties activities in all product markets concerned, the proposed concentration would not give rise to any competition concerns in Hungary, Slovakia and the Czech Republic, the statement said.
The businesses – Esso Hungaria, Esso Ceska and Esso Slovensko – have a combined 102 fuel stations in the three countries. Neither ExxonMobil nor Eni disclosed terms of the purchase.
Eni, which is headquartered in Milan, markets automotive and industrial lubricants, largely under the brand name of subsidiary Agip.