Kenya approve acquisition of control of Gulf Energy Holdings by KenolKobil
Christian Fernsby | ▼ April 27, 2020
the competition authority of kenya has approved the proposed acquisition of control of gulf energy holdings limited by kenolkobil plc, subject to various conditions.
Article continues below
Topics: KENYA GULF ENERGY HOLDINGS KENOLKOBIL
KenolKobil Plc (KenolKobil), the acquirer, is a wholly-owned subsidiary of Rubis Energie SAS (Rubis), a French-based international firm.
KenolKobil is involved in the business of importing, storing, retailing, marketing and distributing refined automotive fuels, lubricants, liquefied petroleum gas and household fuels in Kenya, Uganda, Ethiopia, Zambia, Rwanda and Burundi.
Gulf Energy Holdings Limited (Gulf), the target, is a holding company incorporated in Kenya.
Gulf has several wholly-owned subsidiaries in Kenya.
Gulf is involved in the retail oil marketing, sale of petroleum products to commercial and industrial establishments, export and transit markets, and retail service operations, lubricants, Liquefied Petroleum Gas (LPG) and aviation fuels.
The proposed transaction involves the acquisition of the entire issued share capital of Gulf by KenolKobil.
The transaction therefore qualified as a merger within the meaning of section 2 and 41 of the Competition Act No.12 of 2010.
The parties’ combined and relevant turnover for the preceding year was over Sh1 billion.
The transaction therefore met the threshold for full merger analysis as provided in the Merger Threshold Guidelines.
The activities of the acquirer and the target overlap in the importation, storage and the retail of petroleum products.
Therefore, the relevant product markets for the proposed transaction are the markets for; importation of petroleum products; storage of petroleum products; retail markets for petroleum products; lubricants, LPG and petroleum fuels and market for jet fuel. ■ What to read next
A rather strung-out omega block pattern will feature an upper low moving into Southern California with another just offshore New England while an upper high meanders over southern central Canada into the northern Plains.
Latest Governor Ivey delivers another pay raise to Alabama teachers
West Virginia breaks all-time state record for revenue collections through May
AfDB approves $20 million investment targeting infrastructure sector in Africa
KKR to buy machinery maker Circor in $1.6 billion deal
Italy: 3 suspects placed under house arrest for fraud involving works in public school in Palermo
Unruly air passenger incidents in post-pandemic increase
UN agency for Palestinian refugees raises $107 million of $300 million needed
Swedish Prosecution Authority: Still unclear who is behind gross Nord Stream sabotage
Philippines raises alert level at most active volcano
Concreting of Akkuyu 1's inner containment dome in Türkiye completed
IATA Director General: Industry is OK. Schiphol airport has no shame
It will cost up to $21.5 billion to clean up California’s oil sites
Highlights: May 29, 2023 - June 4, 2023
Jubail 3A independent water desalination plant starts operation in Saudi Arabia
Tasmania: $1.2 billion green methanol and hydrogen proposal welcomed
Poland and Ukraine agreed to bring railway gauges in Ukraine into line with European standards
Commission to refer Italy back to Court of Justice for failing to properly treat urban waste water
New York City announces $8.4m grant to purchase school food from local farmers
New York: Syracuse and county issue call for youth summer job sites
Today We Recommend Highlights
Unite ballots OCS workers at Glasgow airport after no improved wage offer
Papa John's acquires Drake Food Service International's restaurants in UK
Qatar Airways to scrap first class from next generation long haul aircraft
Chemours, DuPont and Corteva offer more than $1 billion to settle forever chemicals claims
Taiwan: Academia Sinica and Moderna to cooperate on mRNA research
Earthfirst Films appoints Tim Harper chief science officer
Sports.com announces Majed Al Sorour as president
Fredrik Göransson appointed new CEO of Transtronic
Newmont appoints Karyn Ovelman as EVP, CFO
Intracom Middle East appoints general manager for MEA & APAC
Bangladesh exports soar 26.61 pct in May
Hong Kong Q1 port cargo throughput decreased by 2.8%
Eurozone investor mood darkens due to Germany, survey finds
Indian forex reserves decline $4.3 billion to $589bn
South Korea's revised GDP grows 0.3 pct in Q1
Dell Q1 revenue down 20%
Natuzzi Q1 consolidated revenue €86.1 million
VMware Q1 revenue $3.28 billion
Lululemon athletica Q1 revenue increased 60%
Hormel Foods Q2 sales $3.0 billion
Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
Zimbabwe can now export fresh citrus to China
Russia: First batch of smolt from Norway imported to Murmansk region in 2023
FAO Food Price Index declines in May
First batch of grain products for export passed through "New land grain corridor Russia-China"
Bulgaria imported more than 55,000 tons of fresh vegetables in January and February
How to get people to pay their taxes
Consumers pay strategically to forget guilty purchases
'Employee of the Month' is not a good thing, especially in Asia
Conservative CEOs acquire international firms, liberal counterparts make alliances
Employees should not be allowed to choose their teammates
Former Wells Fargo senior executive Carrie Tolstedt agrees to settle $3 million SEC fraud charges
Pennsylvania: Shell acknowledges exceeding emission limitations, set aside millions for improvement projects
After exposure, Ukrtatnafta transfers to state budget over USD 32 mln of taxes unpaid by former owners
Settlement reached with Walmart over brass knuckles illegally sold to Californians
New York State AG secures $300,000 from online sporting goods retailers for not protecting consumers’ personal info
Valparaíso, The Jewel of the Pacific
Jewels of Emirates show to kick off at Expo Centre Sharjah
Sotheby’s to unveil largest ruby, most vivid red diamond
Beer, bourbon, and barbecue returns to Virgina in style
Piazza di Siena horse show returns to Rome
Buick introduces first premium crossover Envista
Lamborghini unveils Urus Performante Essenza SCV12 limited edition
2024 Ford Ranger, strength and improved ground clearance
750S, lightest and most powerful McLaren
Bavaria Cruiser 46 Style, for people who love best yacht design
Hallway lights for every style
TerraFlame, clean burning flame outdoor and indoor
Waterford Crystal, Irish pride since 1783
Great ways to make your bathroom looks luxurious on a budget
Italian coffee makers to feel like a pro
Motorola edge 40 smartphone, great camera and speed
Audioresearch Reference 750 SEL monoblock amplifier, 77.2 kg and 750 watts
Gigabyte AERO 14 OLED laptop, created to protect your eyes
Technics stereo power amplifier SE-R1, perfect in every detail
Ballfinger open reel tape machine M 063 H6, device you should have
New South Wales issues alert for meningococcal disease
Zimbabwe bans Johnson & Johnson baby powder amid fears of causing cancer
Pharmacists in British Columbia can prescribe contraceptives, treatments for minor ailments
Researchers develop new tool for cancer diagnosis
People coinfected with COVID and most prevalent herpesviruses at increased risk of cardiovascular disease
UAE to send spaceship to asteroid belt to find origin of life
Peru passes important ocean protection law to protect first 5 nautical miles at sea
One-third of galaxy's most common planets could be in habitable zone
Shanghai records hottest May day in 100 years
First ‘plastic rain’ weather forecast predicts 50kg of microplastics over Paris