The European Commission has approved the acquisition of 1,176 Italian fuel stations by Euro Garages’ parent company Intervias Group.
The deal with Esso Italiana – an ExxonMobil company – includes a long-term branded fuel supply agreement to retain the Esso fuel brand.
The deal was announced in June and was subject to competition authority approval. The Commission concluded that the proposed acquisition would raise no competition concerns, because Intervias and the Esso Italiana fuel stations business are not active in the same member states.
Intervias also owns EFR, which has more than 1,100 sites in Benelux and France.
At the time of the deal, Mohsin Issa, founder and co-CEO, Intervias Group, said: “The Esso brand has a leading presence in Italy and the existing network represents an excellent strategic fit for our business, allowing us to expand our network and reach even more customers with a strong fuel, retail convenience and food-to-go proposition.
“We look forward to strengthening our relationship with Esso and cementing our position as a leading branded wholesale partner across Europe.”