The European Commission said on July 31 that the EC has approved, under the EU Merger Regulation, the acquisition of joint control over Northwester2 NV by Parkwind NV and Summit Tailwind Belgium NV, all based in Belgium.
According to the Commission, Parkwind and the Korys/Colruyt Group of Belgium currently own Northwester2, which holds a domain concession and the necessary licenses to build and operate an offshore wind farm in the Belgian Exclusive Economic Zone in the North Sea.
Parkwind is an investment and development vehicle company of the Korys/Colruyt Group and PMV of Belgium active in the market for the generation and wholesale of electricity in Belgium.
The Commission noted that the Korys/Colruyt Group is predominantly active in the retail of daily consumer goods. PMV is an independent investment company controlled by the Flemish Region. Summit Tailwind is a special purpose vehicle company, held by the Sumitomo Corporation of Japan. Sumitomo Corporation is an integrated trading company that provides a comprehensive range of goods and services around the world.
The Commission said the EC concluded that the proposed acquisition would raise no competition concerns, given the negligible actual and foreseen activities of Northwester2 within the European Economic Area. The transaction was examined under the simplified merger review procedure.