EU approves acquisition of Esso Italiana by UK's Intervias

The European Commission has approved the acquisition of Esso Italia by Intervias Group.

The EU has fiven British group Intervias the green light to acquire 1,176 Esso branded service stations, located in several Italian regions, reports Energy Live News.

The Commission said the EC concluded that the proposed acquisition would raise no competition concerns, because Intervias and the Esso petrol stations business are not active in the same Member States.

“The Esso brand has a leading presence in Italy and the existing network represents an excellent strategic fit for our business, allowing us to expand our network and reach even more customers,” said Mohsin Issa, Founder and CO-CEO of Intervias at the time of the acquisition.

A long-term branded fuel supply agreement between both companies will retain the Esso fuel brand.

Intervias group is based out of the United Kingdom, and represents one of the strongest retail operators in Europe, was formed in 2016 after Euro Garages merged with European Forecourt Retail Group, and operates nearly 1,550 petrol forecourt sites.