BREAKING NEWS

BREAKING NEWS

EU Commission approves RWE's purchase of E.ON renewable assets

EU Commission approves RWE's purchase of E.ON renewable assets
FILE PHOTO: RWE AG CEOs Johannes Teyssen (L) and Rolf Martin Schmitz pose before the joint news conference of utilities E.On and RWE after unveiling plans for an asset swap deal in Essen, Germany March 13, 2018. REUTERS/Wolfgang Rattay/File Photo -
@ Copyright :
Wolfgang Rattay(Reuters)
Text size Aa Aa

BRUSSELS (Reuters) - German utility RWE has won EU antitrust approval to buy the renewables businesses and nuclear electricity generation assets of E.ON, the European Commission said on Tuesday.

"The Commission concluded that the transaction would raise no competition concerns in the European Economic Area," the EU executive said in a statement.

On completion, RWE, Germany's biggest electricity producer, will become Europe's third-largest renewable energy provider behind Spain's Iberdrola and Italy's Enel.

Reuters exclusively reported the approval on Feb. 21.

(Reporting by Robin Emmott, editing by Foo Yun Chee)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.