19/06/2007 (Agence Europe) - On Tuesday, the European Commission granted clearance to the acquisition of a newly created company, NewCo of Austria, by Carbon Austria Projektentwicklungs GmbH (Carbon Austria, Austria) and RWE Power AG of Germany (RWE Power, Germany). In addition, RWE Power also takes joint control with Carbon Austria of Carbon Egypt Ltd (Carbon Egypt, Egypt) and Carbon CDM Korea Ltd (Carbon Korea, Korea). Until now, Carbon Egypt and Carbon Korea were under Carbon Austria's sole control. The latter develops and implements projects to reduce greenhouse gases and sells emission rights. RWE operates in the energy, water, mining, chemicals and waste treatment sectors. NewCo develops and implements climate protection projects. Carbon Egypt and Carbon Korea develop and implement projects for reducing greenhouse gases and sell emission trading rights in Egypt and Korea respectively. The operation was examined under the simplified merger review procedure. (ol)