Acquisition of Eneco by Mitsubishi Corporation gets EU approval

The acquisition of Eneco Group of the Netherlands by Mitsubishi Corporation (MC) of Japan complies with EU merger regulation, the European Commission said on 10 February.
Eneco is active in the production and storage of electricity from sustainable resources, including wind, solar, water and bio-energy, the supply of electricity and gas to private and business customers, and the provision of ancillary services. MC is a global integrated trading company, which develops and operates businesses across a variety of industries. MC, through its subsidiaries, is active in the development, construction and operation of windfarms, generation and wholesale supply of electricity and in trading of electricity in the European Economic Area.
The Commission said the proposed acquisition would raise no competition concerns, given the companies’ moderate market positions and limited overlap resulting from the proposed transaction. The transaction was examined under the simplified merger review procedure.