EU clears acquisition of joint control over SET by STEAG and OYAK

STEAG
A STEAG power plant in Germany.

- Advertisement -

The proposed acquisition of joint control over STEAG Enerji Ticareti ve Hizmetleri (SET) of Turkey by STEAG of Germany and Ordu Yardimlasma Kurumu (OYAK) of Turkey complies with EU merger regulation, the European Commission said on 28 January.
SET is currently controlled by STEAG and is mainly active in the field of energy trading and energy related services in Turkey, selling electricity to industrial customers and providing consulting services.
STEAG is an international energy company mainly active in the field of generation and marketing of electricity and heat and relating services. OYAK is a private pension fund with subsidiaries active in a wide range of sectors, mainly mining, metallurgy, cement, concrete, paper, chemicals, financial services, automotive, logistics, construction, energy, and services.
The Commission concluded that the proposed acquisition would raise no competition concerns, because of its limited impact on the European Economic Area market.

- Advertisement -

Subscribe to our newsletter

Co-founder / Director of Energy & Climate Policy and Security at NE Global Media

Latest

EU officially implements landmark AI law

The EU officially implemented its new landmark AI law...

Tariff Trouble in Trump Town

President Trump has had many a cartoon about him...

Global reaction to Trump tariffs only reinforces his use of this tired and risky strategy

True to form, U.S. President Donald Trump disrupted global...

The New Face of an Old Enemy: The renewed dangers of ISIS and al-Qaeda

A dangerous cocktail of indifference and complacency enabled al-Qaeda...

Don't miss

EU officially implements landmark AI law

The EU officially implemented its new landmark AI law...

Tariff Trouble in Trump Town

President Trump has had many a cartoon about him...

Global reaction to Trump tariffs only reinforces his use of this tired and risky strategy

True to form, U.S. President Donald Trump disrupted global...

The New Face of an Old Enemy: The renewed dangers of ISIS and al-Qaeda

A dangerous cocktail of indifference and complacency enabled al-Qaeda...

EU-Central Asia Civil Society Forum enhances regional cooperation, sustainable development

Almaty, the largest city and former capital of Kazakhstan,...

Donald Trump is inaugurated amidst promises of security, stability and prosperity

After storming a frigid Washington D.C. during his extended inauguration festivities on January 20, Donald J Trump, America’s 47th and 45th President, launched a...

Undeclared “open season” on energy infrastructure in Europe

Russia is claiming it has shot down nine Ukrainian drones that tried to attack the TurkStream pipeline, which carries Russian gas to Europe through...

NATO and EU strengthen Baltic Sea infrastructure protection after Estlink2 undersea power cable damaged

The damage of an undersea power cable off the coast of Finland in the Baltic Sea is the latest in a series of suspected...

After Baku, Belem COP to strengthen Paris Agreement

After the controversial agreement at COP29 in Baku, NE Global sat down with Professor Gregg Walker, a COP veteran, for a close analysis of...

EU searches for alternatives before Russian gas to Europe via Ukraine stops

The Ukrainian government has repeatedly stated that it will not extend a transit agreement, which has provided political, commercial, technical and legal grounds for...

OPEC+ postpones plans to increase production over supply unease

The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known collectively as OPEC+, decided on December 5 to delay its planned...

Facing mounting challenges, new EU Commission takes office

Amidst global geopolitical turmoil, the European Commission of Ursula von der Leyen officially took office on December 1 with the President pledging that over...

COP29: Multilateral diplomatic stalemate circumvented

COP29 in Baku ended in the early hours of November 24, reaching a compromise deal on finance that will advance the global climate agenda...