The UK competition regulator is to pursue a comprehensive review into Maxol’s plan to buy Naas Fuels based in Kildare County, as stated by the Competition and Consumer Protection Commission (CCPC). The regulator will scrutinise how this proposed acquisition may impact competition between petrol stations and the potential implications for customers.
Maxol trades oil and petroleum products, and boasts a network of 243 service stations dispersed across Ireland, with some stations in the ownership of independent traders. Meanwhile, Naas Fuels owns and operates seven service stations under the Circle K brand.
In December, the proposed sale was reported to the CCPC. After prompt preliminary assessments, the CCPC has determined that a more exhaustive investigation is mandatory to verify if the buyout would considerably dampen competition within the region, as per an official statement.