European Commission Clears Acquisition of Inver by Greenergy
The European Commission has approved, under the EU Merger Regulation, the acquisition of Inver Energy of Ireland by Greenergy International of the UK. Inver is an independent importer and distributor of a range of fuel products predominantly in Ireland, where it also operates a number of retail service stations. In the UK, Inver operates a fuel importation terminal in Cardiff, from where it supplies fuel oil, gasoil and kerosene.
Greenergy is active in the importation, storage, blending and transportation of refined oil fuels to wholesale customers in the UK, and is the UK’s largest supplier of road fuels. It also produces and blends biofuels. Greenergy is ultimately controlled by Brookfield Asset Management Inc. of Canada, a global asset manager. The Commission concluded that the proposed acquisition would raise no competition concerns because of the limited overlap between the companies’ activities. The transaction was examined under the normal merger review procedure.
Since 1983 Inver has grown from a small regional supplier for fuel oil in Ireland to a leading independent supplier of fuel and energy in Ireland and the United Kingdom. Inver’s large oil import terminals in Ireland and the UK supply fuel to a wide range of customers, including industrial, marine, wholesale, commercial, agricultural and home heating customers.