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Norwegian authority opposes divestment in St1 Nordic, Smart Fuel merger

( June 23, 2016, 08:56 GMT | Official Statement) -- MLex Summary: The Norwegian competition authority has rejected Blue Energy Holding as the buyer of St1 Nordic’s fuel retail business in Norway, due to the two companies’ close financial links. The regulator also had “significant doubt as to whether they had the needed financial resources to effectively replace St1 Nordic in the Norwegian market.” The sale of St1 to an independent buyer is a condition for the authority to approve the merger of St1 Nordic and Smart Fuel.Fuel: Rejects proposed purchaser of St1 Norge....

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