Brussels, 9 August 2024
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Czech Gas Networks S.à r.l. (‘CGNS’) of Luxembourg, by ČEZ, a. s., of Czechia, and British Columbia Investment Management Corporation (‘BCI’) of Canada.
The transaction relates primarily to the distribution and retail supply of gas in Czechia.
The Commission concluded that the notified transaction would not raise competition concerns, given its limited impact on competition in the markets where the companies are active. In particular, the Commission found that the merged entity would not have the ability nor incentive to engage in any foreclosure strategy. The notified transaction was examined under the normal merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11538.