Gaz de France (GdF) and the UK’s Centrica have been granted European Commission approval to complete a proposed take over of Belgian electricity group SPE.
Under the terms of the deal, Centrica and GdF will take a 51% stake in SPE, which will then buy Luminus and ALG Négoce, two joint venture companies controlled by Centrica and GdF respectively.
The Commission apparently approved the deal on the grounds that it would lead to a stronger second-ranked company in the Belgian energy market.