Munich Re alongside investment firm DWS have been approved by the European Commission Directorate-General for Competition to acquire biogas plants operator, Weltec Holding.
The transaction relates primarily to the operation of biogas and biomethane plants and the trading of its outputs, including electricity, heat, and fertiliser in Germany.
DWS is a global asset management company with a wide investment portfolio, including investments in infrastructure assets in Europe.
Weltec operates biogas/biomethane plants as well as marketing and trading of its outputs exclusively in Germany.
Its business activity covers the whole value chain beginning with the substrate procurement and management, over the production and processing of gaseous fuels to the trading of outputs (biomethane, electricity, heat and fertiliser).
The Commission concluded that the notified transaction would not raise competition concerns, given the limited impact in the European Economic Area and the companies’ limited combined market position resulting from the proposed transaction.
The notified transaction was examined under the simplified merger review procedure, and was approved under the EU Merger Regulation.
