Brussels, 4 August 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Kensa Group Limited (‘Kensa’), by Octopus Energy Group Limited (‘Octopus Energy’) and Legal & General Capital Investiments Limited (‘LGC’) all three of the UK.
Kensa, which is solely controlled by LGC, manufactures and provides ground-source heat pumps and accessories. Octopus Energy generates and supplies renewable energy to consumer and commercial customers. LGC is an investment company active in various sectors, including clean energy and specialist commercial real estate.
The Commission concluded that the proposed acquisition would raise no competition concerns, given that Kensa has almost no actual or foreseen 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.11188.
Source – EU Commission