Press Release: Mergers: Commission approves proposed acquisition of Segebel by Electricité de France (EDF), subject to conditions

The European Commission cleared under the EU Merger Regulation the proposed acquisition by EDF (France) of exclusive control of Segebel (Belgium), a holding company whose only asset is a 51% stake in SPE S.A., the second largest electricity operator in Belgium. Both companies are active in the energy sector. To remedy competition concerns the Commission had in relation to the reduced incentives of EDF to continue its plans to build additional electricity generation capacity in Belgium after the proposed acquisition, EDF committed to immediately divest the assets of one of its companies in charge of the development of one of EDF's planned power station projects. In addition, in case EDF were not to invest in a second planned power station that it has been planning by a set date, or no decision to invest has been taken by then, EDF committed to divest the assets of the company in charge of the development of that project at that time. In view of the proposed remedies, the Commission concluded that the operation would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it. As a result, the Commission decided that there is no need for the matter to be examined by the Belgian competition authority (Conseil de la Concurrence), which had asked for a partial referral of the case.