Israel’s Arko announced on Wednesday, August 26, its subsidiary GPM is acquiring Empire Petroleum Partners’ fuel distribution activities in the United States for US$400 million.
GPM will buy activities to supply fuel to 1,460 filling stations operated by third parties as well as retail operations that include 75 petrol stations and convenience stores.
Upon completion of the deal, GPM will operate 1,350 filling stations and convenience stores and supply fuel to 1,590 stations operated by others in 33 US states.
The deal, expected to close in the first half of 2020, will double the amount of fuel GPM supplies annually to 2.2 billion gallons. GPM will finance the deal with a credit line from US banks.
Full Content: Nasdaq
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC and State Attorneys General Sue John Deere Over Repair Restrictions in Antitrust Case
Jan 15, 2025 by
CPI
Enbridge Wins Legal Battle Against Ducere’s Antitrust Allegations
Jan 15, 2025 by
CPI
GOP Pushes for Antitrust Authority Consolidation Under DOJ in New Legislation
Jan 15, 2025 by
CPI
Canadian Government Approves Bunge-Viterra Merger with Conditions
Jan 15, 2025 by
CPI
SEC Sues Elon Musk Over Delayed Disclosure of Twitter Stock Ownership
Jan 15, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – CRESSE Insights
Dec 19, 2024 by
CPI
Effective Interoperability in Mobile Ecosystems: EU Competition Law Versus Regulation
Dec 19, 2024 by
Giuseppe Colangelo
The Use of Empirical Evidence in Antitrust: Trends, Challenges, and a Path Forward
Dec 19, 2024 by
Eliana Garces
Some Empirical Evidence on the Role of Presumptions and Evidentiary Standards on Antitrust (Under)Enforcement: Is the EC’s New Communication on Art.102 in the Right Direction?
Dec 19, 2024 by
Yannis Katsoulacos
The EC’s Draft Guidelines on the Application of Article 102 TFEU: An Economic Perspective
Dec 19, 2024 by
Benoit Durand