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European Union
IP/09/1672
Brussels, 4 th November 2009
Mergers: Commission approves proposed acquisition of joint control by
CEZB and JAVYS of newly created joint venture JESS
The European Commission has cleared under the EU Merger Regulation the
proposed joint venture Jadrová energetická spolocnost Slovenska, a.s.
(JESS), of the Slovak Republic. The parent companies, who will get
joint control of the joint venture, are CEZ Bohunice a.s. (CEZB) of
the Czech Republic, and Jadrová a vyradovacia spolocnost, a. s.
(JAVYS) of the Slovak Republic. The Commission concluded that the
transaction would not significantly impede effective competition in
the European Economic Area (EEA) or any substantial part of it.
CEZB belongs to the CEZ Group, which is active in the generation,
distribution, sale and trading of electricity throughout the EEA,
Southeastern Europe and Turkey. JAVYS is active in the treatment and
disposal of radioactive waste and spent nuclear fuel and
decommissioning of nuclear facilities in the Slovak Republic.
The joint venture, JESS, will be a new nuclear power plant located in
Slovakia, active in the generation and sale of electricity.
The proposed transaction does not give rise to any horizontal overlaps
between the parent companies. The only horizontal relationship would
be between the activities of JESS and CEZ. However, CEZ has a small
market share in the wholesale electricity supply in Slovakia. The
transaction is a new investment and brings additional capacity to the
Slovak electricity market.
There is a vertical link between JESS' upstream nuclear waste
production and JAVYS' downstream treatment and disposal of radioactive
waste and spent nuclear fuel. However, the contractual framework for
the treatment of nuclear waste in Slovakia, in particular the
modalities of price-setting for the services of JAVYS, mean that any
anti-competitive market restriction is unlikely.
The Commission therefore concluded that the proposed transaction would
not give rise to any competition concerns.
More information on the case is available at:
ec.europa.eu/competition/mergers/cases/index/m111.html#m_5591
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