The European Commission has cleared four separate deals under the EU Merger Regulation, including acquisitions involving renewable energy assets in the United States, property in the Bahamas, a medical devices business and road concessions in India.
The Commission approved the acquisition of joint control of Mustang AIV LP, a US business focused on producing and storing electricity from solar and wind assets, by British Columbia Investment Management Corporation (BCI), Brookfield Corporation and Norges Bank Investment Management (NBIM), the EU executive informed on Tuesday.
It also cleared Brookfield’s joint acquisition of BREF Paradise JV L.P., a real estate venture in the Bahamas, alongside Sirius Holdings Limited.
The regulator said both transactions were reviewed under its simplified procedure and did not raise competition concerns because they would have a limited impact on the European Economic Area (EEA) — the EU plus Iceland, Liechtenstein and Norway.
Medical devices and Indian roads
A third decision approved the acquisition of joint control of Teleflex OEM Business, which operates in the medical device industry, by Kohlberg & Co. and UK-based Montagu Private Equity LLP, the Commission said.
It stated it found no competition concerns because the joint venture has negligible activities in the EEA and the companies would have a limited combined market position as a result of the deal.
In a fourth case, the Commission cleared the acquisition of joint control of Maple — covering Maple Infrastructure Trust and related Indian entities — by Macquarie Group and Canadian pension investor Caisse de dépôt et de placement du Québec (La Caisse).
Maple is involved in owning and operating road concessions in India, and the Commission said the transaction would have a limited impact on the EEA and was also reviewed under the simplified merger procedure.
The cases are listed in the Commission’s public merger register under case numbers M.12346, M.12345, M.12301 and M.12368.
