The European Commission has announced that it has approved the acquisition of joint control over DONG Energy A/S of Denmark by the Kingdom of Denmark and The Goldman Sachs Group, Inc. of the US, under the EU Merger Regulation.
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DONG is currently controlled by the Danish State. Denmark is currently active inter alia in energy markets via DONG. Goldman Sachs is active globally in investment banking, institutional client services, investing and lending and investment management. DONG is active in Northern Europe in the markets for oil and natural gas exploration and production, development, construction and operation of offshore wind farms, electricity and heat generation from power plants, and the sale, distribution and trading of electricity and natural gas.
The Commission found that the proposed transaction would not give raise to competition concerns, in particular because the overlaps between the parties’ activities are very limited. The transaction was examined under the simplified merger review procedure.
Press release, January 7, 2014