The European Commission has cleared the acquisition of joint control of Kelda Holdings Limited — and its subsidiaries, the Kelda Group — by EQT Fund Management S.à r.l. and two GIC-linked buyers.
The Kelda Group is based in Jersey, while EQT Fund Management S.à r.l. is based in Luxembourg, the European Commission said in a statement on Tuesday.
The buyers also include Epsom Investment Pte. Ltd and Nubia Investment Pte. Ltd, which are both based in Singapore.
The deal mainly concerns water supply and sewerage services in the UK.
Limited impact in the European Economic Area
The Commission stated it concluded the transaction would not raise competition concerns because it would have a limited impact on the European Economic Area (EEA) — a trading area that includes EU countries plus Iceland, Liechtenstein and Norway.
The transaction was reviewed under the EU’s simplified merger procedure, the Commission said.
