Brussels, 27 July 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Endeavour Energy by Macquarie Australian Infrastructure Management 1 Limited (‘Macquarie’), all of Australia, and British Columbia Investment Management Corporation (‘BCI’) of Canada.
Endeavour Energy owns and operates an electricity distribution network located in New South Wales, Australia. Macquarie is a subsidiary of the Macquarie Group, a financial group active worldwide providing asset management and finance, banking, advisory and risk and capital solutions. BCI is a long-term investor across a range of asset classes.
The Commission concluded that the proposed acquisition would raise no competition concerns, given that Endeavour 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.11181.
Source – EU Commission