Brussels, 13 October 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of part of Neptune Energy Group Limited (‘Neptune’) of the UK by Eni S.p.A. (‘Eni’) of Italy.
The transaction relates primarily to the exploration, production and wholesale supply of oil, refined petroleum products, and natural gas.
The Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited combined market position resulting from the proposed transaction. The notified 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.11209.
Source – EU Commission