The National Competition Agency of Georgia has started administrative proceedings on the concentration implemented by Sun Petroleum Georgia (Gulf) in the fuel market.
According to the agency, the implementation of the concentration by "Sun Petroleum Georgia" is planned by leasing 32 gas stations owned by 23 economic agents.
Within the framework of the current administrative proceedings, the Agency is studying the issue of concentration compatibility with the competitive environment.
A concentration is subject to prior notification to the Agency, if the joint (total) annual turnover of its participants in the territory of Georgia, exceeds GEL 20 million, and at the same time, the annual turnover of each of at least two persons participating in the concentration exceeds GEL 5 million. The obligation to submit a notification to the Agency rests with the person acquiring and/or gaining control rights.
Implementation of a concentration subject to prior notification is permitted only on the basis of the Agency's decision on its compatibility with the competitive environment. Bypassing the agency, in case of concentration, the person with the obligation to submit the notification shall be fined, the amount of which does not exceed 5% of the annual turnover of the previous financial year. The concentration fee is GEL 5000. The imposition of a fine does not release the person with the obligation to submit the notification from submitting the notification.
