European Commission - Daily News
Brussels, 22 January 2016
The European Commission has approved under the EU Merger Regulation the acquisition of Transmisora Eléctrica del Norte S.A. (TEN) of Chile by Engie S.A. of France and Red Eléctrica Corporación S.A. (REC) of Spain.
Engie is a global energy player active in the areas of electricity, natural gas and energy services. REC operates the national electricity grid and power transmission system in Spain and is also active in some countries in South America.
TEN has currently no activity on the market but will develop and operate an electricity transmission line in Chile. The companies' activities do not overlap. The Commission therefore concluded that the proposed acquisition would raise no competition concerns. The transaction was examined under the simplified merger review procedure.
(For more information: Ricardo Cardoso – Tel. +32 229 80100; Carolina Luna Gordo – Tel.: +32 229 68386)
Source: Europa.eu (Copyright European Commission)