Kool to buy rival Gotika Auto gas stations

The Competition Council (KP) has given the green light to a gas station acquisition by fuel trader SIA "Kool Latvija", which will take a majority holding in another gas station chain, SIA "Gotika Auto".

The KP concluded that as a result of the merger the market and competition would not be adversely affected. Consequently, the merger is permissible.

Sandis Steins, a member of the board of Kool Latvija, confirmed the company has received permission from the KP to purchase a network of 27 filling stations owned by Gotika Auto. Upon completion of the merger, Kool Latvija will operate at least 37 filling stations.

Stein pointed out that last year "Kool Latvija" was the tenth largest company in terms of the amount of fuel sold in retail, and "Gotika auto" the ninth largest.

SIA "Kool Latvija" was registered in September 2016. The company is owned by Aqua Marina, the holding company of the Estonian gas station network Olerex . SIA "Gotika auto '" was registered in 1993 and belonged to Tatjana Raspopova.

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