StatoilHydro Granted Permission to Buy Jet

• 10.22.2008

WilmerHale has successfully represented its client StatoilHydro in its acquisition of ConocoPhillips' network of "Jet" fuel stations in Scandinavia. The European Commission has approved the acquisition under the EU Merger Regulation following an in-depth investigation.

StatoilHydro will be able to take over some 194 high performance Jet stations, 71 in Denmark and 123 in Sweden, considerably boosting its unmanned station, self-service offering there.

To gain approval, StatoilHydro has committed to divest all 40 "Jet" fuel stations in Norway and 40 "Jet" stations in Sweden. 118 Hydro stations will also be part of the divestment package. In the light of this commitment, the Commission has concluded that the proposed transaction would not cause competition concern in the European Economic Area (EEA). Although Norway is not a member of the European Union, it is subject to EU antitrust regulations as a member of the European Economic Area, which includes the EU's 27 members plus Iceland, Liechtenstein and Norway.

The WilmerHale team was led by John Ratliff and Fréderic Louis and they worked together with a team from RBB Economics, led by Andrea Lofaro.