By implementing the concentration Petrol will acquire the Crodux Plin LPG part of the business, including the undertaking Adria-Plin that operates in the LPG retail at the regional level, at one point of sale in Split-Dalmatia County.
Crodux Derivati Dva, a connected company of Crodux Plin that runs the oil derivatives retail business, including the LPG, was not involved in the transaction concerned.
The Croatian Competition Agency (CCA) primarily focused its analysis of the relevant market and the effects of the proposed concentration on the LPG wholesale and retail activities.
In the total national LPG consumption the undertaking INA holds a 70 % share whereas 30 % of LPG supply is imported. Since 2013 the import of LPG to Croatia surged in comparison with the 2012 data by almost 200 %. Petrol and Crodux Plin, that both import LPG, hold 10 % each in the total LPG consumption in the Croatian market.
The biggest share in the total LPG consumption in Croatia in 2017 was held by the transport sector, where autogas held a 50 % share. The gas for households (gas bottles and small tanks) held a 30 % share, whereas the industry and services sector held a share of 10 % each in the total LPG consumption.
INA holds 60 % of the total LPG storage capacities in Croatia. Following the implementation of the concentration in question Petrol will hold less than 20 % of the total storage capacity.
The market share of Petrol in the Croatian LPG retail market after the implementation of the concentration will be less than 20 %.
It must be noted that the Croatian LPG market is open and liberalized, hence, after the implementation of the concentration between Petrol/Crodux Plin, INA will remain the leading rival on the market.
Earlier this year, on 13 May 2019, based on a partial decision, the CCA already cleared the part of the transaction relating to the acquisition of control by the undertaking Petrol over the electricity part of the business of Crodux Plin.