Tuesday 17 October 2017

EU clears buyout of Ireland’s Inver by Greenergy

The European Commission has approved the buyout of Ireland’s Inver Energy by Greenergy.

Inver is an independent importer and distributor of a range of fuel products, predominantly in Ireland, where is also operates retail service stations.

In the UK, it operates a terminal in Cardiff, from where it supplies fuel oil, gasoil and kerosene.

Greenergy, owned by Canadian firm Brookfield Asset Management, is active in the importation, storage, blending and transportation of refined oil fuels to wholesale customers in the UK and is the largest supplier of road fuels in the UK.

It also produces and blends biofuels.

The Commission said the proposed buyout would raise no competition concerns because of the “limited overlap” between the companies’ activities.