European Commission Clears Acquisition of EEW Offshore Wind EU
Deal News | Jan 06, 2025 | EIN
The European Commission, under the EU Merger Regulation, has approved the acquisition of joint control over EEW Offshore Wind EU by EEW Holding and Sumitomo, removing any competition concerns. The acquisition involves the manufacturing of large steel tubes crucial for offshore wind farm construction. The transaction was examined under the simplified merger review procedure, indicating its limited market impact. This development is significant for the renewable energy sector as it enhances offshore wind farm infrastructure. In related industry news, Energy Global's Winter 2024 issue, featuring insights from notable industry figures, discusses renewable advancements in North America and other energy topics.
Sectors
- Renewable Energy
- Manufacturing
- Regulatory Affairs
Geography
- European Union – The transaction approval by the European Commission falls under the jurisdiction and regulatory environment of the EU.
- Germany – EEW Holding, one of the acquiring entities, is based in Germany, indicating its geographical impact.
- Japan – Sumitomo, another acquiring entity, is based in Japan, reflecting the international scope of the transaction.
Industry
- Renewable Energy – The core industry involved in the article is renewable energy, specifically focusing on the offshore wind energy sector, which relates to the companies and transaction discussed.
- Manufacturing – The manufacturing sector is relevant due to the production of large steel tubes for offshore wind farms, which is the area of involvement for EEW Offshore Wind EU.
- Regulatory Affairs – Involved due to the European Commission's role in approving the acquisition under EU Merger Regulation.
Financials
- Not Specified – The financial details of the acquisition such as the deal price or enterprise value were not specified in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EEW Offshore Wind EU | Target | Company | The company being acquired which specializes in the manufacturing of large steel tubes for offshore wind farms. |
| EEW Holding | Bidding Company | Company | A German company gaining joint control over EEW Offshore Wind EU. |
| Sumitomo | Bidding Company | Company | A Japanese conglomerate company sharing joint control over EEW Offshore Wind EU. |
| European Commission | Government | Government | The regulatory authority that examined and approved the transaction under the EU Merger Regulation. |