EU Approves Acquisition of Formosa 1 Wind Power by DONG Energy, Macquarie, Swancor
The European Commission, the EU’s executive arm, said on March 1 that it has approved, under the EU Merger Regulation, the proposed acquisition of joint control over Formosa 1 International Investment Co., Ltd. of Taiwan by Denmark’s DONG Energy Wind Power Holding A/S, Australia’s Macquarie Corporate Holdings Pty Limited and Taiwan’s Swancor Holding Co., Ltd.
Formosa 1 is an offshore wind farm project to be developed, constructed and operated near Miaoli, Taiwan.
DONG is active in the markets for oil and natural gas exploration and production, development, construction and operation of offshore wind farms, electricity and heat generation from power plants, natural gas and electricity trading, the sale and distribution of electricity and the sale of natural gas.
Macquarie is active in investment intermediation for institutional, corporate and retail clients around the world in a wide range of sectors. Swancor is a producer and distributor of specialty chemical materials.
The Commission said in a press release that it concluded that the proposed transaction would raise no competition concerns as the geographical area where the wind farm will operate is in Taiwan. The transaction was examined under the simplified merger review procedure, the Commission said.https://www.neweurope.eu/article/eu-approves-acquisition-formosa-1-wind-power-dong-energy-macquarie-swancor/