The Board of Directors (BD) of the Competition Superintendence (CS) declared the acquisition authorization request between Puma and Esso inadmissible, since neither of the companies completely filed the information requested by the CS.

1. Press Release C. 23-11
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El Salvador, September 21 , 2011.
CS Declared Puma
uma–Esso Acquisition Request Inadmissible
The Board of Directors (BD) of the Competition Superintendence (CS) declared the
acquisition authorization request between Puma and E Esso inadmissible, since neither of
the companies completely filed the information requested by the CS.
Said inadmissibility does not mean the operation has been denied; just
“A merger or that the economic agents involved must initiate a new authorization
acquisition request process.
cannot be admitted for
Puma Energy, owner of the Puma trademark, filed a request for the purchase
uma
analysis if the
of all of shares of Esso, Services Santa Elena, and the equity participation in
o,
information provided Acajutla Petroleum Refinery (hereinafter, RASA), owned by Esso. Pursuant
to the CS is to the analysis carried out by the CS, the competition authority determined
incomplete. that important information was missing and requested the companies to file it.
requested
Notwithstanding the
aforementioned, since Nevertheless, the companies did not file all the requested information
“inadmissible” does according to the Salvadoran Competition Law, its regulations, and other
not mean “denial”, applicable legislation. Ergo, the CS declared the request inadmissible.
PUMA and ESSO may The aforementioned inadmissibility does not inhibit the petitioners to file in the
file a new request future a request which complies with the requirements set out by the
complying with all the Competition Law and its regulations.
legal requirements”,
asserted Francisco In El Salvador, the economic agents must request authorization from the CS
th
Diaz Rodriguez, before carrying out a merger or acquisition, in order to determine if such
operation will not provoke a significant limitation on competition. The CS is
Competition
legally empowered to authorize, condition, or deny a merger or acquisition
Superintendent. before said operation is executed.
Background
Date Stages of the acquisition request analysis
th
July 26 , 2011 PUMA Energy filed the acquisition request for the purchase of all the shares of
Esso, Services Santa Elena, and the equity participation in Acajutla Petroleum
Refinery (hereinafter, RASA), owned by Esso.
August 9th, 2011 CS requested complementary information for the acquisition analysis due to the
fact that the information filed by PUMA and ESSO was incomplete.
th
August 29 , 2011 The petitioners presented a writ with the information with which the economic
agents pretended to comply with the request.
pretend
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September 20 , 2011 After reviewing the information newly filed by Puma and Esso, the CS declared
the request inadmissible, since the information request was not complied with.
Edificio Madreselva, 1er Nivel, Calzada El Almendro y 1ª Ave. El Espino, Urb. Madreselva, Antiguo Cuscatlán, El Salvador.
E-mail: contacto@sc.gob.sv - www.sc.gob.sv