EC scrutinizes MOL-OMV Slovenija deal

EU

The European Commission on Thursday said it opened an in-depth investigation to assess the planned acquisition of OMV Slovenija by Hungarian oil and gas company MOL, according to a report by state news wire MTI.

The EC pointed out concerns that the transaction could reduce competition in the retail motor fuels market in Slovenia.

MOL is the third-biggest player on Slovenia's motor fuel market and OMV Slovenija is the second largest. If MOL acquires OMV Slovenija, it, together with incumbent Petrol, would control "a very large share" of the market, leaving all other competitors "unlikely to pose any significant competitive constraint", the EC said.

MOL and OMV announced the deal a little more than a year earlier and notified the EC in May 2022.

The Hungarian oil and gas company decided not to submit commitments during the initial investigation to address the EC's preliminary concerns, the EC noted.

The EC has until October 28, 2022, to take a decision on the matter.

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