REG - DCC PLC - CC provisionally clears acquisition

Thu Jul 26, 2012 2:19am EDT

* Reuters is not responsible for the content in this press release.

RNS Number : 5558I
DCC PLC
26 July 2012
 



 

Competition Commission provisionally clears acquisition

 

 

DCC plc, the sales, marketing, distribution and business support services Group, is pleased that the Competition Commission ("CC") has today provisionally cleared DCC's acquisition of certain oil distribution assets previously owned by Total in Britain and welcomes the CC's conclusion in its provisional findings that the acquisition will not result in a substantial lessening of competition in the oil distribution market in Britain.  Full details of the acquisition were announced by DCC on 23 September 2011 and the acquisition was completed on 31 October 2011. 

 

In its announcement provisionally clearing the acquisition the CC stated:

 

"The CC has provisionally found that the range of customers supplied by these businesses would not suffer from a substantial lessening of competition as a result of the acquisition:

·    Customers with large load requirements, such as service stations, would continue to have a range of supply options.

·    Local customers with smaller requirements would face a reduction in choice in some areas but the ease of small-scale entry for other companies would counteract any dangers.

·    Customers requiring smaller loads across a number of sites (multi-site non-bulk) can and already do source from a number of suppliers and are prepared to switch in response to price rises."

 

The full details of the CC's provisional findings are available on the CC's website at:

http://www.competition-commission.org.uk/media-centre/latest-news/2012/Jul/cc-provisionally-clears-fuel-distribution-merger 

The CC is expected to publish its final report by 18 September 2012. 

 

 

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
The company news service from the London Stock Exchange
 
END
 
 
ACQBKADDABKKFOB
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.