CCPC issues assessment to East Cork Oil and Misty Lane in on going merger review
November 25, 2022
As part of its merger review process into the proposed acquisition by East Cork Oil Company Unlimited Company (East Cork Oil) of sole control of Misty Lane Holdings Limited (Misty Lane) and its subsidiaries (merger notification M/22/015), the Competition and Consumer Protection Commission (CCPC) has issued an assessment of the proposed transaction to both parties.
This assessment, which sets out the preliminary views of the CCPC, is not a final determination. The parties can request access to the CCPC’s file. They have 15 working days to respond in writing to the CCPC’s assessment and they may also ask to make an oral submission.
This proposed acquisition was originally notified to the CCPC in March 2022. As part of the proposed acquisition, East Cork Oil would acquire the entire issued share capital, and thus sole control, of Misty Lane, and thereby also sole control of its subsidiaries Arch Avenue Holdings Limited, Atlantic Oils (Ireland) Limited, and Geaney Oil Limited.
The CCPC carried out a preliminary investigation of the proposed transaction and concluded that a full investigation was required to establish if the proposed transaction could lead to a substantial lessening of competition in the State.
Based on the timelines as set out in the CCPC’s Merger Review Process, it is expected that the investigation will conclude no later than March 2023. At that time, the outcome of the investigation will be published on the CCPC’s website, www.ccpc.ie. A full non-confidential version of the CCPC’s determination will subsequently be published.
As the merger control review is ongoing, no further information or comment can be provided at this time.Return to News