Applegreen plc has received the approval of the Irish Competition and Consumer Protection Commission to acquire a 50% share in the Joint Fuels Terminal in Dublin port from the Topaz Energy Group for a consideration of about €15.7m.
The deal was announced in January 2017 and is now expected to complete by mid July 2017.
The Joint Fuels Terminal, which is 50% owned by Valero Energy (Ireland) Limited, is one of three fuel importing facilities in Dublin port. The interest being acquired was previously owned by Esso Ireland.
In a statement when the deal was announced, Applegreen said the proposed acquisition would provide it with the facility to import fuel directly from refineries, thereby securing a strategically valuable platform that provided a competitive supply for the majority of its Irish fuel requirements.