The Commission for the Protection of Competition has received a notification of a concentration regarding the acquisition of the share capital of HTC Energy Limited (HTC) by eWise Cyprus Limited (eWise).
As noted, eWise (formerly ExxonMobil Cyprus Limited) is a company duly registered under the laws of the Republic of Cyprus and is a subsidiary of Petrolina (Holdings) Public Limited. The company operates in the petroleum products sales sector in the Republic of Cyprus, through a network of fuel stations under the ESSO brand.
It is further added that Petrolina (Holdings) Public Limited is the parent company of the Petrolina Group of companies and is a company duly registered under the laws of the Republic of Cyprus, which is listed on the Cyprus Stock Exchange. Petrolina is active in the import, storage and marketing of fuels and lubricants through its network of service stations throughout Cyprus.
It is noted that HTC is a company duly registered under the laws of the Republic of Cyprus and is exclusively active in the provision of services to eWise through an exclusive license for the management of the Esso fleet card, through which commercial customers (fleets of vehicles) purchase fuel from ESSO gas stations.
(Source: InBusinessNews)
