Press Release: Mergers: European Commission clears proposed acquisition of a controlling stake in Spanish gas company Saggas by Japan’s Osaka

The European Commission has approved under the EU Merger Regulation the proposed acquisition of joint control over Saggas, which runs the Sagunto regasification plant in Spain, by Osaka Gas CO Ltd., a Japanese energy company. The other controlling entities of Saggas are Infrastructure Arzak BV, ultimately managed by Deutsche Bank of Germany, and Union Fenosa Gas S.A. (UFG) of Spain, which is jointly controlled by the Gas Natural SDG S.A. of Spain and ENI S.p.A of Italy. After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.