Competition Commission formally clears acquisition
4 September 2012
Competition Commission formally clears acquisition
DCC plc, the sales, marketing, distribution and business support services Group, is pleased that the Competition Commission ("CC") has today formally cleared DCC's acquisition of certain oil distribution assets previously owned by Total in Britain, confirming its provisional findings which were published on 26 July 2012. Full details of the acquisition were announced by DCC on 23 September 2011 and the acquisition was completed on 31 October 2011.
The CC has concluded that the acquisition will not result in a substantial lessening of competition in the oil distribution market in Britain.
In its announcement formally clearing the acquisition the CC stated:
"The CC has found that the range of customers supplied by these businesses will not suffer from a substantial lessening of competition as a result of the acquisition:
· Customers with large load requirements, such as service stations, will continue to have a range of supply options.
· Local customers with smaller requirements will face a reduction in choice in some areas but the ease of small-scale entry for other companies would counteract this.
· Customers requiring smaller loads across a number of sites (multi-site non-bulk) can and already do source from a number of suppliers and most are prepared to switch in response to price rises."
The final report of the CC on the acquisition is available on the CC's website at:
Tommy Breen, Chief Executive of DCC plc, said today:
"We welcome the completion of the Competition Commission investigation into DCC's acquisition of the former Total oil distribution business and its conclusion that the acquisition will not result in a substantial lessening of competition in the oil distribution market in Britain. We believe the findings of the final report are very positive for the future growth and development of DCC's oil distribution business and, in particular, our strategy to further increase the scale of our business in Britain."
For reference:
Tommy Breen, Chief Executive
Donal Murphy, Managing Director, DCC Energy
Fergal O'Dwyer, Chief Financial Officer
Redmond McEvoy, Investor Relations Manager
Telephone: +353 1 2799400
Email: investorrelations@dcc.ie
Web: www.dcc.ie
This information is provided by RNS
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