Antitrust Committee Recommends Blocking Shapir Group's Control of Ashdod Oil Refinery

The Israeli Committee for Reducing Concentration has recommended by majority vote that the Shapir Group should not be allowed to acquire control of the Ashdod Oil Refinery (Bazan). The committee argued that the deal would significantly increase the group's overall market concentration, placing it among the most dominant economic players in Israel. According to the opinion published on Thursday, acquiring up to 65% of Bazan's shares, one of the two main refining infrastructures in the country, would strengthen Shapir's bargaining power against the government and increase the state's dependence on the group both in routine operations and emergencies. Further details are expected to be released later.