On 26 January 2016, the European Commission approved the acquisition of Topaz Energy Group Limited, Resource Property Investment Fund Plc ("RPIF") and Esso Ireland Limited by Alimentation Couche-Tard Inc ("ACT").
The European Commission made its decision under the EU Merger Control Regulation.
ACT is a Canadian company which has a fuel station network in Norway, Sweden, Denmark, Poland, Latvia, Lithuania and Estonia. Topaz supplies motor fuels, lubricants, heating oil and aviation fuel to retail and wholesale clients in Ireland and in Northern Ireland. RPIF holds investments in a number of Topaz's properties including service stations and depots. Esso Ireland is active in the retail and wholesale supply of fuel products in Ireland.
The European Commission found that the parties' activities overlapped only in the wholesale supply of lubricants in the EEA. The Commission therefore found that the proposed acquisition would raise no competition concerns given the companies' moderate positions on this market.
The transaction was examined under the European Commission's "simplified merger review procedure".