Mergers: Commission clears the creation of a joint venture between Reliance Industries and British Petroleum

https://www.trevisobellunosystem.com/tvsys/img/notizie/eu_commissione_europea.jpg

Source: European Commission Spokesperson’s Service

The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture in India between Reliance Industries Limited (“RIL”) of India and BP Global Investments Limited
(“BP GIL”), a subsidiary of BP, of the UK. The joint venture will operate petrol stations in India and operate RIL’s aviation fuel storage business and into-plane fuel distribution facilities for
the sale and/or supply of aviation fuel at airports in India. RIL is a private-sector listed company active in hydrocarbon exploration and production, petroleum refining and marketing,
petrochemicals, retail, telecommunications and digital services. BP is the parent company of a global group of entities active, among others, in the exploration, production and marketing of crude
oil and natural gas, refining, marketing, supply and transportation of refined products, petrochemicals and related products. The Commission concluded that the proposed acquisition would raise no
competition concerns given that the joint venture will have no activities in the European Economic Area. The transaction was examined under the simplified merger review procedure. More information
is available on the Commission’s competition website, in the
public case register
under the case number
M.9786.

Preliminary estimate of GDP II quarter 2024

In the second quarter of 2024the seasonally and calendar adjusted, chained volume measure of Gross Domestic Product (GDP) increased by 0.2per cent with respect to the previous quarter and by 0.9per cent over the same quarter of previous year. The second quarter of 2024 has had two days lesswith respect to the previous quarter and […]

Mergers: Commission clears the creation of a joint venture between Reliance Industries and British Petroleum

Daily News 20 / 04 / 2020

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