Brussels, 28 July 2022
The European Commission has approved, under the EU Merger Regulation, the acquisition of PT Supreme Energy Muara Laboh (‘SEML’), of Indonesia, by INPEX Corporation (‘INPEX’) and Sumitomo Corporation (‘SC’), both of Japan.
SEML owns and operates a geothermal power plant in Indonesia. INPEX is an oil, gas and mineral exploration and production company active in several countries, including Indonesia. SC is a trading, business management, and project development company, operating worldwide in various sectors, including metal products, transportation, construction, infrastructure, mineral resources, energy, chemicals and electronics. The Commission concluded that the proposed acquisition would raise no competition concerns, given SEML’s negligible actual and foreseen activities in the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10811.
Source – EU Commission