Amman, Feb. 12 (Petra) -- The Ministry of Industry, Trade and Supply approved the completion of the economic concentration process resulting from Vivo Energy’s acquisition of 100 percent of the shares of TotalEnergies Marketing Jordan, which operates in the petroleum derivatives marketing sector in the Kingdom, following an in-depth competition assessment.

The Ministry told the Jordan News Agency (Petra) that the acquiring company had submitted a request for prior written approval in accordance with the provisions of the Competition Law. The transaction was reviewed by the Competition Directorate, which conducted a comprehensive analysis of its potential impact on market structure, competitive dynamics, and supply and demand conditions.

The Ministry said that, based on the findings of the technical assessment and pursuant to the Directorate’s mandate to oversee economic concentration transactions, including mergers and acquisitions stipulated under the Competition Law, the Minister of Industry, Trade, and Supply issued a decision approving the transaction.

The study concluded that the acquisition would not result in the creation or strengthening of a dominant position that would materially impair effective competition, nor would it substantially alter the structure of the petroleum derivatives marketing market in the Kingdom. It further indicated that the transaction is unlikely to adversely affect existing or potential competitors.

The Ministry added that the transaction is expected to generate positive economic effects by supporting market stability and reinforcing equilibrium between supply and demand in the petroleum derivatives distribution sector.

It also noted that transferring ownership to an operator with regional and international expertise, committed to enhancing operational efficiency and compliance with technical and environmental standards, is anticipated to stimulate competition through improved service quality and expanded geographic coverage, ultimately serving the interests of consumers.

//Petra// AJ