The European Commission said on December 20 that the EC has approved, under the EU Merger Regulation, the acquisition of joint control over Gas Natural Fenosa Generación Nuclear S.L. and Holding Negocios Regulados Gas Natural S.A. (together referred as “GNDB”) of Spain by CPPIB Europe, controlled by CPPIB of Canada, Allianz Infrastructure of Germany and Gas Natural of Spain.

The European Commission said on December 20 that the EC has approved, under the EU Merger Regulation, the acquisition of joint control over Gas Natural Fenosa Generación Nuclear S.L. and Holding Negocios Regulados Gas Natural S.A. (together referred as “GNDB”) of Spain by CPPIB Europe, controlled by CPPIB of Canada, Allianz Infrastructure of Germany and Gas Natural of Spain. GNDB, which was previously solely controlled by Gas Natural, is active in gas distribution and transmission, retail supply of LPG and supply of gas connections in Spain.

CPPIB Europe is a professional investment management organisation that invests in equities, private equities, real estate, infrastructure and fixed income instruments.

Allianz Infrastructure is a wholly owned subsidiary of Allianz, a global financial service company with services predominantly in the insurance and asset management business. Gas Natural is active in several regulated and deregulated gas and electricity markets in particular in Spain.

The European Commission said the EC concluded that the proposed acquisition would raise no competition concerns because the companies’ activities do not overlap. The case was examined under the simplified merger review procedure.

https://www.neweurope.eu/article/eu-clears-acquisition-gndb-cppib-europe-allianz-infrastructure-gas-natural/

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