Deadline for French solar energy provider takeover proposals expires today
The deadline for submissions to the European Commission of takeover bids for two French solar energy providers ends today.
The deal would see Australian asset management company Macquarie lead a consortium to acquire two French clean energy companies–InfraVia and Eurazeo–for $2.7 billion. Similarly, the European Commission is examining whether Macquarie’s acquisition of RedEn, a French solar development company, also falls under merger regulations.
Today’s deadline comes at a time when Macquaire is looking to expand its reach in the EU’s renewable energy industry. However, there is skepticism of whether the deal will meet EU merger requirements, as current laws prohibit mergers that significantly reduce competition in the EU’s single market.
Expect Macquarie’s submission to be filed on time. However, given the number of companies the Australian firm has acquired in the European Union over the past few years, it is likely that the group will be subject to complex acquisition regulations. Due to this, there’s also a significant chance that the respective mergers will be prolonged, or even ultimately cancelled, if the European Commission takes a particularly hardline stance on protecting the single market amid Europe’s ongoing energy crisis.
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