The Antimonopoly Office of the Slovak Republic approved the acquisition of control over Lukoil

14.11.2014
On October 22, 2014 the Antimonopoly Office of the Slovak Republic, Division of Concentrations approved the merger grounded in acquisition of indirect joint control of undertakings Imre Fazakas, Hungary and Lev Tolkachev, the Russian Federation through the company NORM BENZINKÚT Korlátolt Felelősségű Társaság, Hungary over the undertakings LUKOIL Slovakia s.r.o., the Slovak Republic („LUKOIL SK“) and LUKOIL Magyarország Korlátolt Felelősségű Társaság, Hungary („LUKOIL HU“).
 
Imre Fazakas and Lev Tolkachev act in the area of sale of crude oil to the undertakings in the territory of the European Economic Area, who have refinery plants processing crude oil into petrol or diesel oil. In the territory of the Slovak Republic they act through the company NORMESTON selling crude oil to company Slovnaft through pipelines.
 
Company LUKOIL HU acts in the territory of Hungary both as wholesale and retail seller of diesel oil, petrol, LPG and as a retailer of complementary goods. In the territory of the Slovak Republic it acts as a wholesaler of diesel oil and petrol to large industrial customers and the volume of supplies in these areas in the Slovak Republic is inappreciable.
 
Company LUKOIL SK acts in the territory of the Slovak Republic as a retailer of diesel oil, petrol, LPG and complementary goods.
 
Activities of undertakings concerned overlap in the territory of the Slovak Republic neither horizontally, it means in the area of fuel retail, nor vertically as the acquired companies do not act in the markets directly vertically connected with the area of crude oil trading in which the person notifying concentration acts.
 
After evaluation of all acquired documents and materials the Office concluded that the assessed merger would not infringe effective competition in the relevant market, mainly as result of creation or strengthening of dominant position and it approved the merger.

Decision came into force on 06. 11. 2014.
 
Last update:14.11.2014