On Tuesday 26 March, the European Commission announced that it had authorised the modification of the commitments made by Germany as part of the recapitalisation of the energy company SEFE.
This is a modification of the commitments given by Germany in the Commission’s decisions which allowed Germany to take control of the energy company SEFE, deemed to be systemic, in November 2022 in order to replace the Russian shareholder and to recapitalise the company through a cash capital injection of €6.3 billion (see EUROPE 13089/17).
At the time, the German authorities gave a number of commitments to offset distortions of competition and trade resulting from the recapitalisation. These commitments included divestments or reductions in activities, limitations on sales volumes and a ban on acquisitions for SEFE.
Germany subsequently notified the Commission of a change to this acquisition ban. This will enable SEFE to acquire the remaining shares in gas network operator WIGA GmbH & Co KG, of which it already holds almost 50%.
The Commission specified that this amendment was accompanied by a new series of commitments, put forward by Germany, aimed at remedying distortions of competition. These commitments include additional divestments and reductions in activity, a commitment to reduce volumes and a third aid recovery mechanism. (Original version in French by Émilie Vanderhulst)