Brussels, 13 March 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Eku Energy Group Limited (‘Eku Energy’) of the UK, by Macquarie Group Limited (‘MGL’) of Australia, and British Columbia Investment Management Corporation (‘BCI’) of Canada.
Eku Energy is a joint venture active in the development, construction, and operation of battery storage assets in Japan, Taiwan and the UK. MGL is a global provider of banking, financial, investment, and fund management services. BCI is an institutional investor, investing on behalf of public sector clients in British Columbia, including public sector pension plans, insurance, and special purpose funds.
The Commission concluded that the proposed acquisition would raise no competition concerns, given that Eku Energy does not have any activities within 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.11048.
Source – EU Commission