The Service of the Commission for the Protection of Competition has received a notification of a concentration according to Section 10 (4) of the Control of Concentrations between Enterprises Law of 2014, concerning the acquisition of part of the share capital of VLPG PLANT Ltd by YUGEN LIMITED and the merger of its activities related to the storage and management of LPG with the respective business divisions of Petrolina (Holdings) Public Ltd, Synergas Ltd and Intergaz Ltd which have already been merged through the VLPG PLANT Ltd.
YUGEN LIMITED is a company duly registered in accordance with the laws of the Republic of Cyprus and is active in the management and operation of a fuel terminal at Vassiliko Energy Center. YUGEN LIMITED is part of the Hellenic Petroleum S.A Group (hereafter the “ELPE Group”) which is active in Greece and in southeastern Europe. ELPE Group is active in Cyprus via: Hellenic Petroleum Cyprus Holding (HPCH) LTD, a portfolio company responsible for the investments of the Group in Cyprus, Hellenic Petroleum Cyprus Ltd, which is active in the supply, transport and trade of liquid fuel, lubricants and LPG to commercial and industrial clients, Blue Circle Engineering Ltd, which is active in the retail supply/ distribution of LPG in bulk and the installation of LPG systems and relevant equipment which use LPG as an energy source.
VLPG PLANT Ltd is a company duly registered in accordance with the laws of the Republic of Cyprus and is in the process of constructing an LPG terminal at Vassiliko Energy Center and in which the respective LPG departments of the companies, Petrolina (Holdings) Public Ltd, Synergas Ltd and Intergaz Ltd have already been merged. Upon completion of the terminal, the company will provide storage and management services for LPG and related works such as bottling and maintenance of LPG cylinders as well as its loading on tanker trucks.
Petrolina (Holdings) Public Ltd is a public company duly registered under the laws of the Republic of Cyprus, listed on the Cyprus Stock Exchange and is active in the importation and trade of light and heavy petroleum products, LPG, engine oil and lubricants, refueling of aircrafts and storage, management, transportation and sale of petroleum products, LPG and lubricants.
Synergas Ltd is a cooperative company duly registered under the laws of the Republic of Cyprus and is active in the storage, management and distribution of bottled and bulk LPG, throughout the Republic of Cyprus.
Intergaz Ltd is a private company duly registered under the laws of the Republic of Cyprus and is active in the retail and wholesale trade of LPG and specifically deals with the importation, storage, bottling and distribution of bottled and bulk LPG.