EU approves purchase of GENOL shares

On August 23, the European Commission authorized the merger of GENOL with RWA Raiffeisen Ware, having complied with EU rules that the merger did not distort competition.
GENOL is an Austrian distributor of liquid and solid fuels. Its product portfolio includes heating oil, motor fuels and related products such as lubricants, and other fuels such as coal, wood pellets and firewood. GENOL mainly supplies diesel fuel and gasoline on a wholesale basis to warehouses owned by agricultural cooperatives. In addition, GENOL has limited activities in the retail trade of fuels.
Controlled by Germany’s BayWa Aktiengesellschaft and Austria’s RWA Genossenschaft, RWA Raiffeisen Ware is a holding company active in the sale of farm products such as crops, oil and wood; products for farming like seed, fertilizer and fodder; and consumer goods like DIY and garden ware. It has been given the go-ahead to buy up GENOL through the purchase of GENOL shares held by Austria’s OMV Refining and Marketing GmbH.
(August 24, 2013)