The
European Commission said on December 20 that the EC has approved, under the EU
Merger Regulation, the acquisition of joint control over Gas Natural Fenosa
Generación Nuclear S.L. and Holding Negocios Regulados Gas Natural S.A.
(together referred as “GNDB”) of Spain by CPPIB Europe, controlled by CPPIB of
Canada, Allianz Infrastructure of Germany and Gas Natural of Spain. GNDB, which
was previously solely controlled by Gas Natural, is active in gas distribution
and transmission, retail supply of LPG and supply of gas connections in Spain.
CPPIB
Europe is a professional investment management organisation that invests in
equities, private equities, real estate, infrastructure and fixed income
instruments.
Allianz
Infrastructure is a wholly owned subsidiary of Allianz, a global financial
service company with services predominantly in the insurance and asset
management business. Gas Natural is active in several regulated and deregulated
gas and electricity markets in particular in Spain.
The
European Commission said the EC concluded that the proposed acquisition would
raise no competition concerns because the companies’ activities do not overlap.
The case was examined under the simplified merger review procedure.
https://www.neweurope.eu/article/eu-clears-acquisition-gndb-cppib-europe-allianz-infrastructure-gas-natural/