Brussels, 22/10/2007 (Agence Europe) - On Monday 22 October the European Commission gave the green light to three acquisition projects. These three projects were examined under simplified merger review procedure.
First of all the Commission authorised the draft acquisition of the French company, Nord Est SA by 21 Centrale Partners (France), controlled by Edizione Holding S.p.A (Italy), a Benetton group holding. Centrale Partners is an investment fund management company. Nord Est is active in the packaging sector. The commission investigation reveals that the proposed buyout will not significantly impede competition in the common market.
The acquisition of joint control of Alcogroup SA of Belgium by EDF Energie Nouvelles (EDF EN) of France) and Alcofinance of Belgium was also cleared. EDF EN is active in the production of electricity from renewable energy sources, in particular wind power, hydro power, biomass and solar energy. Alcofinance and Alcogroup both produce, distribute and sell ethanol.
Finally, the European Commission granted clearance to the acquisition of sole control of Intelsat of Bermuda by Serafina Holdings Limited, also of Bermuda, formed by funds managed by CIE Management II Limited of the UK. Serafina is a special purpose vehicle formed and managed by BCP Funds, a group of private equity investment funds. Intelsat provides global voice, data, video and wholesale internet communications services via satellites. (O.L.)