EU clears acquisition of Spanish wind farms by GE and Mirova

EPA/FILE PICTURE

The General Electric offices in Boston, Massachusetts, US.

Joint acquisition of nine Spanish wind projects to have limited impact on the market


Share on Facebook
Share on Twitter
Share on Google+
Share on LinkedIn
+

The European Commission said the EC has approved, under the Merger Regulation, the acquisition of joint control of Idesamgar SL and Idesamgar SL 1, which will hold nine wind farm projects in Spain, by Mirova-Eurofideme 3, a company based in France, and US conglomerate General Electric.

Mirova-Eurofideme 3, owned by Banque Populaire Caisse d’Epargne, is a venture capital fund that invests for institutional players, particularly in renewable energies, sustainable equities and green bonds, the Commission said in a press release.

General Electric is a global company active in the investment market in the energy sector, and in the production and maintenance of hydroelectric, wind and solar power generators.

The Commission said the EC concluded that the proposed concentration did not raise competition concerns because of its limited impact on the market. The transaction was examined under the simplified merger control procedure.

Share on Facebook
Share on Twitter
Share on Google+
Share on LinkedIn
+