Brussels, 27 October 2023
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Iberdrola, S.A. of Spain and BP, p.l.c. of the UK.
The transaction relates primarily to the markets for installation, operation and maintenance of a public network of electric vehicle (‘EV’) charging stations with fast and ultra-fast charging speeds in Spain and Portugal.
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 and the presence of a sufficiently large number of alternative charging point operators. These markets are expected to grow significantly over the next three years. 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.11128.
Source – EU Commission