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PHILLIPS 66 / FORTRESS INVESTMENT GROUP / PESTER MARKETING
M.10089
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
M.10089 — Phillips 66/Fortress Investment Group/Pester Marketing
SECTION 1.2
Description of the concentration
On 1 December 2020, the Commission received a notification of a proposed concentration pursuant to which Phillips 66 (“Phillips 66”) and Fortress Investment Group LLC (“Fortress”) (an indirectly, majority owned subsidiary of SoftBank Group Corp. (“SoftBank Group”)) will acquire joint control of the Pester Marketing gas station and convenience store business (“Pester Marketing”).
Phillips 66 is an American multinational energy company headquartered in Houston, Texas (U.S.). Phillips 66 has a portfolio of integrated midstream, chemicals, refining and marketing businesses. Phillips 66 processes, transports, stores and markets fuels and products globally.
Fortress is a U.S.-based global alternative investment and asset management firm, which manages capital for a diverse group of investors including pension funds, endowments and foundations, financial institutions, funds of funds and high net worth individuals. Fortress is a majority owned subsidiary of SoftBank Group.
SoftBank Group encompasses a global portfolio of subsidiaries and affiliates involved in advanced telecommunications, internet services, robotics and clean energy technology and, through doBank, management of all the phases of the lifecycle of any type of loan through specialised modular and customised services, including outsourced management of performing and non-performing loans.
Pester Marketing is an independent owner and operator of gas stations and convenience stores in the Rocky Mountain, Southwest and Mid-West regions of the U.S., selling motor fuel and daily consumer goods.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.