The European Commission said on September 5 the EC has approved under the EU Merger Regulation the creation of a joint venture by Centerbridge Partners of the United States and Italy’s Enel.
According to the Commission, the joint venture does not carry out any business activity yet, its object is to build and operate seven wind farms at Kafireas (Euboea) in Greece with a total installed capacity of 154 MW.
Centerbridge Partners is an investment management firm focused on private equity and distressed investment opportunities.
Enel is an Italian multinational company active in the production and distribution of electricity and gas.
The Commission said the EC concluded that the proposed acquisition would raise no competition concerns given the limited overlaps between the companies’ activities.
The transaction was examined under the simplified merger review procedure.