The European Commission said on May 8 that the EC has approved under
the EU Merger Regulation the acquisition of joint control by STRABAG SE
and EVN AG, both of Austria, over the joint venture Projektgesellschaft
Geoenergie Bayern Projekt Garching a.d. Alz GmbH & Co. KG, of
Germany.
The joint venture holds the rights for the development of the deep
geothermal energy project Bruck in Garching in Bavaria, which will
further develop and generate and supply electricity and district heating
to third parties. Moreover, it is expected to develop other deep
geothermal projects.
STRABAG is active worldwide in all segments of the construction
business, especially in structural, construction and civil engineering,
as well as road construction. EVN is mainly active in the exploration
and production of oil and gas, gas storage and distribution of
electricity, gas and district heating.
The Commission said the EC concluded that the proposed acquisition
would not raise competition concerns given that the joint venture has
no, or negligible, actual or foreseen activities within the European
Economic Area.
The transaction was examined under the simplified merger review procedure, the Commission said.
https://www.neweurope.eu/article/eu-clears-creation-german-jv-austrias-strabag-evn/