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Mergers: Commission clears acquisition of Pester Marketing by Phillips 66 and Fortress Investment Group

Daily News 04 / 01 / 2021

Immagine Mergers: Commission clears acquisition of Pester Marketing by Phillips 66 and Fortress Investment Group  Source: European Commission Spokesperson's Service  



The European Commission has approved, under the EU Merger Regulation, the acquisition of Pester Marketing gas station and convenience store business (‘Pestering Marketing’) by Phillips 66 Company (‘Phillips 66’) and Fortress Investment Group LLC (‘Fortress’), all of the U.S. Pester Marketing owns and operates service stations selling motor fuel and daily consumer goods in the Rocky Mountain, Southwest and Mid-West regions of the U.S. Phillips 66 processes, transports, stores and markets fuels and products globally. Fortress is a global investment and asset management firm. The Commission concluded that the proposed acquisition would raise no competition concerns, because Pester Marketing has no actual or foreseen activities within the territory of the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.10089.