The European Commission has approved the acquisition of joint control of Tennet Germany by the Kreditanstalt für Wiederaufbau (KfW), acting on behalf of the German Federal Ministry of Economics. The approval also covers Transtennet in the Netherlands. The Brussels authority announced this on Tuesday. This transaction primarily concerns electricity transmission. The Commission concluded that the project does not raise any competition law concerns, given the limited market position of the involved companies. The merger was examined under the streamlined merger control procedure. Specifically, the transaction involves acquiring just over 25 percent of the shares in Tennet Germany, for which the federal government plans to spend 3.3 billion euros.
Economy / Finance
