Press Release: Mergers: Commission approves proposed acquisition of Essent by RWE, subject to conditions

The European Commission cleared under the EU Merger Regulation the proposed acquisition of Essent of the Netherlands by RWE of Germany. Both companies are active in the electricity and gas sectors. The Commission's decision is conditional upon RWE's commitment to divest Essent's controlling shareholding in Stadtwerke Bremen AG (swb). RWE agreed to this divestment to remedy competition concerns the Commission had in relation to the German wholesale electricity and gas markets. The Commission concluded that the transaction, as modified by this commitment, would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.