Britain’s Competition Markets Authority (CMA) announced on Monday, April 8, it had cleared German utility RWE’s purchase of rival E.ON’s renewables business and nuclear electricity generation assets, reported Reuters.
Under the deal, RWE will take a 16.7% minority stake in E.ON.
“The CMA has decided, on the information currently available to it, not to refer the following merger to a Phase 2 investigation under the provisions of the Enterprise Act 2002,” the CMA said in a statement. When a merger is referred for a Phase 2 investigation, the CMA has to decide whether the merger could result in a substantial decrease in competition.
In February, RWE won antitrust approval from the European Commission for the deal, after it found the transaction would not raise competition concerns.
Full Content: Reuters