Slovenia, EC indefinitely postponed decision on approval of MOL’s acquisition of OMV Slovenia, SEE Energy News
According to Slovenian media, the European Commission (EC) has indefinitely postponed making a decision on approving the acquisition of OMV’s fuel network in Slovenia by Hungarian oil and gas company MOL, claiming that MOL did not provide requested information.
In June, the EC announced that it has launched an in-depth probe into the acquisition due to concerns that the acquisition may lead to increased fuel prices. The EC has 90 days to examine the transaction and will make public its decision by 28 October. In the case of in-depth probes, the EU regulator could allow the deal after further investigation, block it or request partial or full divestments by either or both parties.
However, in July, the Commission said that it has suspended the investigation because MOL did not provide the requested information, and will continue the investigation once it receives the material it requested. This effectively means that the October deadline is annulled and the approval decision is postponed indefinitely.
Last June, MOL Group reached an agreement with OMV to acquire OMV’s 92.25 % stake in OMV Slovenia, in which Croatian INA already holds a 7.75 % minority stake, from OMV Downstream GmbH as direct shareholder. The agreed purchase price is 301 million euros (100 % share of OMV Slovenia).