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European Commission OKs PSPIB, Jera Nex bp's Joint Ownership of Formosa 2

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The European Commission said Monday it cleared the acquisition of joint control of Taiwan's Formosa 2 International Investment by Canada-based Public Sector Pension Investment Board, or PSPIB, and the UK's Jera Nex bp.

The deal is not expected to raise competition concerns due to its limited impact on the European Economic Area.

Formosa 2 is 51/49 owned by Synera Renewable Energy Group and Jera Nex bp, according to its website. Meanwhile, Jera Nex bp is a 50/50 owned venture between Japanese power generation company Jera and British energy giant BP (BP.L).

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