EC clears acquisition of CE Electric from Innogy's Npower Yorkshire

Sep 18, 2001 02:00 AM

The European Commission said it has cleared the acquisition by Northern Electric's holding company CE Electric of Yorkshire Power Group from Innogy's Npower Yorkshire. CE is majority owned by MidAmerican Energy Holdings.
"The deal does not pose any competition concerns as the two electricity distributors largely operate in different regions in the United Kingdom," it said. The acquisition is part of a wider transaction between CE Electric and Innogy, whereby Innogy buys CE Electric's electricity supply business. This deal is separate and below the sales thresholds set out in the EU's merger regulations, so does not require review by the commission, it said.

Under the deal approved, electricity distribution from CE Electric in the North East of England and from YPG in Yorkshire will be combined, and the commission said it found little or no overlap between these activities. Northern Electric distributes electricity on North-East England and supplies electricity throughout the UK, as well as being active in the exploration and development of natural gas in the North Sea. Yorkshire Power Group (YPG) distributes electricity in Yorkshire and supplies electricity throughout the UK.

Source: AFX News Ltd.
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