E.ON Gets Green Light to Acquire Some of Electrabel’s Assets

E.ON, the major Germany-based utility, was granted permission from the European Commission Wednesday to gain the assets to two power facilities owned and operated by Electrabel, based in Belgium.

The European Commission released a statement outlining that the transaction would in no way impede market competition for its industry within Europe. The Commission said in its statements that the overlaps of E.ON’s assets and Electrabel’s assets are relatively limited, and it would expand E.ON’s assets, but not raise any concerns over competition.

GDF Suez is linked to the acquisition as Electrabel, one of its companies, has also acquired some of E.ON’s power generation facilities and additional drawing rights in a partial swap. Electrabel’s new assets are in Germany according to the statement.

The swap is part of E.ON’s ongoing attempts to adhere to German policy and distribute some of its assets within Germany, after encountering issues with competition in the market. E.ON currently is in violation of some competition laws with a large vested amount of power assets within Germany.