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EDF Energy welcomes the decision by the Office of Fair Trading to give merger clearance to the anticipated acquisition by Centrica from EDF Group of a 20% interest in British Energy. The OFT has concluded the transaction will not have an adverse effect on competition in any UK market.

The OFT decision is a key step in completing the proposed transaction but there are still other conditions that need to be met before we can finalise the deal.

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This transaction is important in securing affordable and low carbon energy supplies for the UK.

The main outstanding step now in being able to complete this transaction is clearance from the European Commission for EDF’s proposed acquisition of Centrica’s stake in the Belgian utility SPE, which is an integral part of the overall deal. EDF is currently in discussions with the EC over their formal notification and expect to submit that during the summer, with an anticipated clearance in the coming months.

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This entry was posted on Monday, August 10th, 2009 at 11:31 am and is filed under Business News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.