EU clears Sklum/The Masie/Create deal

EU clears Sklum/The Masie/Create deal

The European Commission has approved the creation of a joint venture between Sklum, The Masie, and Create, as part of the EU Merger Regulations. The transaction, which involves investments in low-carbon mobility and decentralized renewable energy systems in France, has been cleared under the simplified merger review procedure [2].

The joint venture, formed by Alba NGM Co-Invest S.L.P.S., controlled by Alba Infra Founding Partners SAS (ALBA); Mirova Energy Transition 6 S.L.P., controlled by BPCE SA; and Caisse des dépôts et consignations (CDC), is expected to support the EU's decarbonization efforts and transition to clean energy [2].

The Commission concluded that the notified transaction would not raise competition concerns, given the negligible activities of the joint venture in the European Economic Area and the limited combined market position of the companies resulting from the proposed transaction [2].

This approval demonstrates the Commission's commitment to reducing the regulatory burden on companies and to quickly approving transactions that clearly do not harm competition in Europe but rather support the EU's environmental goals [2].

References:

[1] https://www.marketscreener.com/news/bpce-eu-clears-creation-of-company-with-alba-and-cdc-ce7c50d8d98af12d
[2] https://www.euronews.com/bybit