EU clears acquisition by Kuwait sovereign authority of UK gas company

BRUSSELS, The European Commission Monday approved, under the EU Merger Regulation, the acquisition of North Sea Midstream Partners Limited, of the UK, by the Kuwaiti Public Investment Authority (PIA), of Kuwait.

North Sea Midstream Partners owns natural gas transportation and processing assets in and around the UK North Sea.

The Kuwaiti authority is a global investor, with investments in real estate, private and public equity, fixed income and alternative investment markets across the globe, said the Commission in a press release.

The EU’s executive body concluded that the proposed acquisition would raise no competition concerns, given that there are no horizontal overlaps or vertical links between the activities of the companies.

The transaction was examined under the simplified merger review procedure, it added.

Source: Kuwait News Agency