Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves energy company acquisitions, (May 11, 2015)
Organizations Mentioned:Borealis Siegfried Holdings B.V. | Brother Industries Ltd. | Brother Industries, Ltd. | Domino Printing Sciences plc | Fortum Distribution AB | Group Crédit Agricole | Omers Administration Corp. | Omnes Capital, S.A.S. | Prédica Prévoyance Dialogue du Crédit Agricole | Quadran S.A.S. | Quadrica S.A.S.
By Edward L. Puzzo, J.D.
The European Commission has approved the acquisition of Fortum Distribution AB by Borealis Siegfried Holdings B.V., the Commission announced today (MEX/15/4959). Fortum Distribution of Sweden operates several electricity distribution networks. Borealis of the Netherlands, a producer of plastics and chemicals, belongs to the OMERS Administration Corporation of Canada, a pension fund with interests in a number of infrastructure companies, including energy utilities in Europe. The Commission concluded that the proposed transaction (case number M.7608) would not raise competition concerns, because there are no overlaps between the parties' activities.
Renewable energy. In other energy-related developments, the Commission also approved the acquisition of joint control over Quadrica S.A.S. by three French companies. Omnes Capital, S.A.S., Prédica Prévoyance Dialogue du Crédit Agricole, and Quadran S.A.S. Quadrica will hold shares in wind farms which, prior to the transaction, were held by certain subsidiaries of Quadran, an independent producer of renewable electricity mainly active in France. Omnes Capital is an asset management company active in the renewable energy sector. Predica Prevoyance, a subsidiary of the Group Crédit Agricole, is active in the insurance sector. The Commission concluded that the proposed acquisition (case number M.7609) would raise no competition concerns because the overlaps between the companies' activities are minimal.
Printing equipment. Separately, the Commission approved the acquisition of Domino Printing Sciences plc by Brother Industries Ltd. Domino of the UK supplies industrial printing equipment. Brother of Japan manufactures and sells fax machines, printing equipment, label makers and scanners primarily for use in a home or office environment. The Commission concluded that the proposed acquisition (case number M.7594) would raise no competition concerns, because the companies' activities do not overlap.
Companies: Fortum Distribution AB; Borealis Siegfried Holdings B.V.; Omnes Capital, S.A.S.; Prédica Prévoyance Dialogue du Crédit Agricole; Group Crédit Agricole; Quadran S.A.S.; Quadrica S.A.S.; Domino Printing Sciences plc; Brother Industries Ltd.
News: AcquisitionsMergers Antitrust