Topaz's bid to take control of Esso Ireland has been moved to Phase 2 investigation stage by the Competition and Consumer Protection Commission, with a full investigation required to 'determine if the acquisition will substantially lessen competition'.
The Commission has until 30 November 2015 to declare its position on the proposed transaction, although the investigation may conclude in advance of this.
Interested parties are invited to make submissions before 2 September 2015.
Topaz announced in January that it had struck a deal to acquire 38 Esso sites around the country. The deal also includes the right to supply around 60 service stations operated by independent dealers.
© 2015 - Checkout Magazine by Stephen Wynne-Jones