Viva Energy’s (ASX:VEA) proposed acquisition not opposed

Company News

by Rachael Jones

The ACCC won’t oppose the proposed acquisition of the remaining 50 per cent interest in Liberty Oil Holdings wholesale business by Viva Energy Australia, a wholly owned entity of Viva Energy Group (ASX:VEA).

Viva and Liberty are both wholesalers and retailers of fuel products.

The ACCC found that the proposed acquisition is unlikely to substantially lessen competition in the wholesale supply of fuel products.

Shares in Viva Energy Group (ASX:VEA) are trading -1.09 per cent lower at $1.81.

 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.