Competition Authority to Carry Out Full Investigation of Greenstar’s proposed acquisition of Veolia (Ireland)

07 January 2010

The Competition Authority has today decided to carry out a full (phase 2) investigation in relation to the proposed transaction whereby Greenstar Holdings Limited would acquire sole control of Veolia Environmental Services (Ireland) Limited (“VESI”) from its current owner Veolia Propreté SA (“Veolia”).  The Competition Authority came to its decision after a preliminary review of the proposed transaction, which was notified under the Competition Act 2002 by the parties on 22 October 2009.

Greenstar Limited (“Greenstar”) is a wholly owned subsidiary of Greenstar Holdings Limited, which is ultimately controlled by National Toll Roads plc.  Greenstar provides integrated waste management solutions for domestic and commercial customers in the State.  Greenstar operates waste transfer facilities in Dublin, Waterford, Cork, Kilkenny, Wexford, Wicklow, and Sligo.

The parent company of VESI, Veolia, has decided to exit the non-hazardous waste business in Ireland.  VESI owns and operates Veolia’s hazardous and non-hazardous waste operation in the Republic of Ireland and Northern Ireland.  The proposed acquisition relates only to Veolia’s non-hazardous waste business.  VESI’s non-hazardous waste business provides integrated waste management solutions for commercial and industrial customers in the Republic of Ireland and Northern Ireland.  VESI is headquartered in Ballymount Cross, Dublin and operates waste transfer stations in Dublin, Newry, Cork, Waterford and Limerick.

Following a preliminary investigation, the Competition Authority is unable to conclude that the proposed acquisition will not be to substantially lessen competition in markets for goods or services in the State without carrying out a full investigation.  The companies have been informed of the decision that the Competition Authority intends to carry out a full investigation in relation to the proposed transaction.  The Competition Authority has until 8 April 2010 to make a final decision on the proposed transaction (but may conclude its investigation in advance of this date).

Interested parties are invited to make written or oral submissions, which must be made no later than 5.00pm on 28 January 2010.  Parties making submissions should indicate clearly what, if any, of the material submitted contains business secrets. Submissions should be marked “M/09/024 – Greenstar/Veolia (Ireland)”, and should be addressed to Elisa Ryan, Mergers Division, The Competition Authority, Parnell House, 14 Parnell Square, Dublin 1, or sent by e-mail to er@tca.ie 

 

 

NOTES TO THE EDITOR

Under Part 3 of the Competition Act 2002, certain mergers or acquisitions in the State that satisfy certain financial thresholds and other conditions must be notified to the Competition Authority and may not be put into effect during a prescribed waiting period.  The Authority may clear or prohibit the proposed transaction.

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Contact Information

Janet McCoy, Press Officer, The Competition Authority
Tel: 01 8045455 Mobile: 087 915 5406 email: jmcc@tca.ie  

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