BERLIN (dpa-AFX) - The European Commission has approved the creation of a joint venture by STEAG Beteiligungsgesellschaft mbH, belonging to the STEAG group, and Siemens Project Ventures GmbH, belonging to the Siemens group (SIEGY.PK, SMAWF), all of Germany.
The joint venture will build and operate a gas and steam turbine power plant in Herne, of Germany, and market the generated electricity and heat.
The Commission concluded that the proposed acquisition would raise no competition concerns given the limited overlaps between the companies' activities. The transaction was examined under the normal merger review procedure.
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