Sector News

Statoil Fuels and Retails wins EU okay for Shell deal

March 24, 2016
News

Statoil Fuel and Retail gained European Union antitrust approval on Wednesday for its acquisition of Shell’s Danish retail and wholesale fuels business after agreeing to sell some businesses to allay competition concerns.

The European Commission had been concerned that the deal could have led to Danish consumers paying more for their fuel, diesel, gasoline and light heating oil.

Statoil Fuel and Retail, which operates in Denmark under the Statoil brand and is controlled by Canadian company Alimentation Couche-Tard (ATDb.TO), received the EU green light after pledging to sell 205 petrol stations and Shell’s commercial fuels business.

The concessions also include providing access to two third party oil terminals and to SFR’s oil terminal in Aalborg and a trademark license agreement with Shell allowing the buyer of the divested businesses to use the Shell brand.

By Foo Yun Chee

Source: Reuters

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