Topaz / Esso transaction approved by CCPC
Topaz / Esso transaction approved by Competition and Consumer Protection Commission
Emmet ONeill, Chief Executive of Topaz Energy Limited (Topaz), has welcomed todays decision by the Competition and Consumer Protection Commission (CCPC) to approve the purchase of Esso Irelands fuels and convenience business in Ireland.
The deal will see the Esso businesses [Esso Ireland Ltd and its wholly owned subsidiaries, Ireland ROC Ltd and Esso Ireland Manufacturing Company Ltd] acquired by Topaz Investments Ltd. the parent company of Topaz Energy Limited.
Following the acquisition the Topaz network will extend to 425 service stations; 162 of which will be company owned. The business will have a presence in every county on the island of Ireland. Topaz also has market leading home heating and commercial and aviation fuel supply businesses.
|Company Owned Service Stations||127||35||162|
|Dealer Owned Service Stations||203||60||263|
Following the transaction Topaz will have a turnover of approximately 3.5 billion and will employ approximately 2,000 staff. The company will be one of the top 10 largest companies in Ireland.
Topaz Chief Executive, Emmet ONeill, said the deal cemented the position of the company in the Irish market; in just 10 years Topaz has successfully taken on and bought out the Irish retail businesses of three of the largest oil companies in the world (Shell, Statoil and now Esso) to create a truly significant and innovative Irish business and a major Irish employer. This deal adds real substance to our operations here. It will bring our employee numbers in Ireland to 2,000 and we believe there is real scope to develop this business further through innovations like our Re.Store convenience stores and our partnership with Rockets in the years ahead.
The deal will close formally on December 1st.