The Finnish Competition and Consumer Authority (FCCA) approved an acquisition on 10 August 2018, by which Gasum will acquire the entire share capital of Enegia Consulting, Enegia Portfolio Services and Intstream from Enegia Group. The FCCA has concluded that the acquisition will not significantly impede effective competition on the Finnish market.
The Finnish company Gasum Oy is the parent company of the Gasum Group, which engages in the wholesale of liquid and gaseous fuels. The Gasum Group is engaged in the purchase, transport, distribution and sale of natural gas, biogas and liquefied natural gas (LNG) and the processing, distribution and sale of compressed natural gas (CNG). Enegia Consulting Oy, Enegia Portfolio Services Oy and Intstream Oy, which form the energy market services provided by Enegia Group, are subsidiaries owned by Enegia Group Oy.
The FCCA has concluded that the acquisition will not significantly impede effective competition on the Finnish market. There are only slight overlaps in the business operations of the parties involved in the acquisition on the secondary markets for natural gas, and there are sufficient alternative providers of energy market services.
The FCCA’s decision includes business secrets of the parties involved. The decision cannot be published until the business secrets have been removed.
More information:
- Head of Research, Sanna Syrjälä, tel. +358 (0)29 505 3385
- Research Officer Pontus Ranta, tel. +358 29 505 3747
firstname.lastname@kkv.fi
According to the Competition Act, the FCCA must be notified of the transaction if the combined turnover of the parties to the corporate transaction exceeds 350 million euros and the turnover from Finland of at least two of the parties exceeds a combined total of 20 million euros. The FCCA will approve a corporate transaction if it has none of the harmful impacts referred to in the Competition Act. The FCCA will intervene in corporate transactions if its investigations suggest that the acquisition substantially impedes effective competition on Finnish markets or a substantial part of the markets, particularly through the creation or reinforcement of a dominant market position.