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Mergers: Commission clears acquisition of #FormosaI by #Macquarie, #Ørsted, #Swancor and #JERAPower

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The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of joint control over Formosa I International Investment Co., Ltd. ("Formosa I") of Taiwan by Macquarie Corporate Holdings Pty Limited ("Macquarie") of Australia, Ørsted InvestCo Ltd. ("Ørsted") of Denmark, Swancor Ind. Co. Ltd. ("Swancor") of Taiwan and JERA Power International B.V. ("JERA") of Japan. Formosa I is currently jointly controlled by Macquarie, Ørsted and Swancor.

Formosa I is an offshore wind farm project being developed, constructed and operated near Miaoli, Taiwan. Macquarie is involved in a diverse range of businesses, including investing in a wide range of sectors like resources and commodities, energy, financial institutions, infrastructure and real estate. Ørsted is engaged in the development, construction and operation of offshore wind farms, bioenergy plants and innovative waste-to-energy solutions.

It also procures, produces, distributes and trades energy and related products in Northern Europe. Swancor is a producer and distributor of specialty chemical materials. JERA is active in upstream fuel investment, fuel procurement, trading and transport activities. It is also engaged in the development and operation of power generation plants.

The Commission concluded that the proposed transaction would raise no competition concerns as the wind farm will operate in Taiwan. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.9268.

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