The European Commission said on September 6 that the EC has approved under the EU Merger Regulation the acquisition of joint control over Japan Renewable Energy Corporation (JRE) of Japan by Colindale Investment Private Limited, indirectly controlled by GIC Private Limited both of Singapore, and The Goldman Sachs Group, Inc. of the US. JRE is a developer, owner and operator of renewable energy projects in Japan.
Colindale is an investment vehicle of GIC which manages a diversified global portfolio of investments in private equity, venture capital and infrastructure funds, as well as direct investments in private companies.
Goldman Sachs is a global investment banking, securities and investment management firm. The Commission said the EC concluded that the proposed acquisition would raise no competition concerns, as JRE is active only in Japan. The transaction was examined under the simplified merger review procedure.