European Commission Approves Nuon Sale to Eni

The European Commission has today approved a sale between Italian Eni and Belgian Nuon for Nuon's Belgian gas supply and other assets. 

The sale between the two companies, which was agreed in July of this year, had been subject to EU-approval to ensure that competition issues would not arise from the sale.

"Given the relatively modest combined market shares of the parties and the resulting minimal increment, there are no competition concerns," the European Commission said in a statement.

The  €157 million transaction sees Eni take control of the Belgian branch of Vattenfall's operations, Nuon Belgium, with approximately 550,000 electricity and gas connections gained.

Eni will also acquire subsidiaries Nuon Wind Belgium NV and Nuon Power Generation Walloon NV.