Commission clears acquisition of joint control of Hydro Dolomiti Enel by Macquarie European Infrastructure Fund and Dolomiti Energia

The European Commission has approved under the EU Merger Regulation the acquisition of joint control over Hydro Dolomiti Enel by Macquarie European Infrastructure Fund (“MEIF4”) and Dolomiti Energia. MEIF4 is active, through its portfolio company Renvico, in the generation and wholesale supply of electricity in Central-Southern Italy. Dolomiti Energia operates mainly in Northern Italy in several areas, including generation and supply of electricity and heat, distribution of electricity and methane gas, water services and collection and disposal of municipal waste. Hydro Dolomiti Enel is active in the generation and wholesale supply of electricity with a portfolio of hydro plants located in Northern Italy. The Commission concluded that the proposed acquisition will raise no competition concerns, because the companies have a limited position on the markets where their activities overlap. The market share increment brought about by the transaction is therefore small and will not significantly alter the market structure. 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.7869.