Tribunal approves Vitol’s buyout of Engen
- April 25, 2024
- Infrastructure
- 0 Comments
The Competition Tribunal has approved the proposed acquisition of petrol station brand Engen by independent energy marketing and trading company Vitol Emerald, subject to a set of competition and public interest conditions. The tribunal’s order follows a hearing last month during which it heard submissions from the Competition Commission, the merging parties, the Department of Trade, Industry and Competition (dtic), Sasol South Africa, Astron Energy South Africa, the National Union of Metalworkers of South Africa, and the Chemical, Energy, Paper Printing, Wood and Allied Workers Union. Following the hearing, the tribunal requested additional submissions from the commission, the merging parties, Sasol and Astron Energy. MERGING PARTIES Vitol supplies and distributes crude oil, petroleum products and natural gas globally.
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