Competition Bureau resolves competition concerns with Global Fuels acquisition of Greenergy’s retail fuel business
October 26, 2023 – GATINEAU (Quebec), Competition Bureau
The Competition Bureau announced today that it has reached an agreement with Global Fuels Inc. and its affiliates (Global Fuels), related to their proposed acquisition of Greenergy's Canadian retail fuel business. The proposed transaction includes 241 retail fuel and convenience locations in Canada.
The Bureau concluded that the proposed transaction would likely substantially lessen competition in the sale of fuel to retail customers in Picton and Chatham, Ontario.
To resolve the Bureau’s concerns, Global Fuels agreed to assign motor fuel supply agreements in these markets to a buyer (or buyers) to be approved by the Commissioner of Competition.
The Commissioner is satisfied that this agreement addresses the competitive issues arising from the proposed transaction.
The complete agreement is available on the Competition Tribunal’s website.
Global Fuels operates a national network of Esso, Mobil, and Esso Cardlock branded fuel locations.
Greenergy is an international supplier and distributor of transportation fuels, with fuel supply businesses in the UK, Ireland, and Canada.
Consent agreements generally contain remedial measures that the Commissioner has determined are appropriate to address a proposed transaction’s likely anti-competitive effects. A consent agreement has the force and effect of a court order once it is registered with the Competition Tribunal.
The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.
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