Concentration Committee Recommends Against Shapir Group's Acquisition of Ashdod Refinery

The Committee for the Reduction of Concentration has recommended, by a majority vote, that the acquisition of control over the Ashdod Oil Refinery (Bazash) by the Shapir Group be denied. The committee argues that the transaction would significantly expand the group's overall economic concentration, placing it among the most dominant entities in Israel.

According to the opinion published on Thursday, the acquisition of up to 65% of the shares of Bazash — one of the two central refining infrastructures in the economy — would strengthen Shapir's bargaining power against the state. Furthermore, it would increase the government's dependence on the group in both routine and emergency situations. More to follow.