The European Commission said on March 6 that the EC has approved, under the EU Merger Regulation, the acquisition of sole control over Westinghouse Electric UK Holdings Limited of the UK and TSB Nuclear Energy Services Inc. of the US (together Westinghouse), by Brookfield of Canada.
According to the Commission, Westinghouse is active in the nuclear industry and supplies a wide range of products and services covering the entire lifecycle of nuclear power plants. Brookfield is an asset manager, with a focus on property, renewable power, infrastructure, and private equity.
The Commission said the EC concluded that the proposed acquisition would raise no competition concerns because the activities of the companies do not overlap. The transaction was examined under the simplified merger review procedure.