The European Commission, under the EU Merger Regulation, approved the establishment of a joint venture between Public Power Corporation and Metlen Energy & Metals, both Greek companies.

According to the relevant announcement, the transaction mainly concerns the operation of battery energy storage facilities in Bulgaria, Italy, and Romania.

The Commission concluded that the notified transaction does not raise competition concerns due to the companies’ limited combined presence in the relevant markets resulting from the specific cooperation. The transaction was reviewed under the simplified merger control procedure.

Source: CNA