Under the EU Merger Regulation, the European Commission has approved, the acquisition of joint control over Dublin’s Poolbeg waste to energy facility.
The acquisition is being mad by Münchner Rückversicherungs-Gesellschaft Aktiengesellschaft in Münchenof Germany, DIF Management Holding BV of the Netherlands, Green Investment Group Limited of the UK, controlled by the Macquarie Group of Australia, and Covanta Holding Corporation of the US.
GIG specialises in green infrastructure principal investment, project delivery and portfolio management and related services.
Covanta is primarily involved in the waste disposal and energy sectors.
The Commission concluded that the proposed acquisition would raise no competition concerns, given the absence of horizontal overlaps or vertical relationships between the activities of the plant and those of Munich Re, DIF, Macquarie, and Covanta within the European Economic Area.
The transaction was examined under the simplified merger review procedure.
VIDEO: Covanta CEO Discusses Waste to Energy Business with Bloomberg
Covanta has reported an increase in revenue from $1699 million in 2016 to $1752 million for the year ended 31 December 2017.