Competition Bureau resolves competition concerns with Global Fuels acquisition of Greenergy's retail fuel business

The Competition Bureau has announced 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.

Global Fuels announced a deal in July to buy U.K.-based Greenergy's Canadian retail fuel business. The acquired network includes 241 retail gas and convenience locations extending from Nova Scotia to B.C.

The sites are predominantly Mobil-branded and located adjacent to Loblaw grocery stores in larger communities across the country.

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.

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.

With files from The Canadian Press