On 12 November 2009, the European Commission approved the transaction by which EDF will acquire Centrica’s 100% interest in Segebel, which owns 51% of SPE.
Approval comes at the end of phase 1 of the procedure, in return for commitments from EDF to dispose of one of the two combined cycle gas projects it is developing in Belgium. EDF has also agreed to dispose of its other combined cycle gas project at a later date, but only if it decides not to develop this project.
The European Commission’s approval marks a major milestone in plans to acquire SPE, which should be finalised by the end of November 2009. The decision is also the final stage before the definitive acquisition by Centrica of 20% of Lake Acquisitions, the holding company for the British Energy acquisition as well as the 20% interest in the EDF project company set up to construct new nuclear power stations in the United Kingdom.
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