-- The European Commission on Tuesday approved a US renewable energy deal involving a consortium of three investors, citing limited impact on the European Economic Area under merger rules.
The approval covers the joint acquisition of Mustang AIV by British Columbia Investment Management, Brookfield (BN), and Norges Bank Investment Management, the Commission said.
The investors, based in Canada and Norway, will take shared control of the US-based entity as part of the transaction reviewed under European Union merger regulations.
Mustang AIV's operations are mainly focused on renewable energy, particularly the generation and storage of electricity through solar and wind assets in the US.
The Commission said the deal does not raise competition concerns, noting its minimal effect on markets within the European Economic Area.
The transaction was assessed under the European Union's simplified merger review process, according to the European Commission.
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