Press release from the Competition Council regarding the economic concentration project concerning the acquisition by the company ‘Varo Energy B.V.’ (together with its subsidiaries ‘VARO’) of the exclusive control of the company ‘Corral Petroleum Holdings AB’ (together with its subsidiaries ‘Preem’)

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the below ‘operation summary’ containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and individuals involved:

• The acquirer: ‘Varo Energy B.V.’ through its subsidiary ‘Varo Energy Marketing AG’;
• The target: ‘Corral Petroleum Holdings AB’ together with its subsidiaries Preem;

Nature of the operation

• Acquisition of exclusive control.

Economic sector concerned:

• Refining and marketing markets for petroleum products and lubricants.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e., May 23, 2025.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council has received notification of an economic concentration operation concerning the acquisition of exclusive control by the company ‘Varo Energy B.V.’ through its subsidiary ‘Varo Energy Marketing AG’ of the company ‘Corral Petroleum Holdings AB’ together with its subsidiaries Preem.

‘VARO Energy Marketing AG’, headquartered in Zug, Switzerland with registration number CHE-262.809.460, is an integrated energy company mainly active in the refining, logistics, and marketing of petroleum, gas, and lubricant products. The company also offers renewable energy solutions. It operates throughout Europe, with sites in several countries.

‘Corral Petroleum Holdings AB’, acting as a holding company, holds all the capital of Preem AB. Preem AB, headquartered at C/O PREEM AB, 112 80 Stockholm, Sweden, is registered under number 556726-8569. It is active in the refining and marketing of petroleum products and lubricating oils for businesses and individuals. The company is also active in renewable energy solutions, increasingly focusing on biofuels and sustainable products. ‘Preem’ operates two refineries in Sweden and has a national service network comprising approximately 500 petrol stations for private and commercial traffic. It employs 1650 people.”

 

Done in Rabat, on May 13, 2025.