The agreement bringing French investment group Meridiam into the Great Sea Interconnector as its majority shareholder has not been formally notified to the European Commission for merger control review, a Commission spokesperson told the Cyprus News Agency.
Notification rests with the companies
“This transaction has not been formally notified to the Commission. If a transaction constitutes a concentration and has an EU dimension, it is always for the companies to notify it to the Commission,” the spokesperson said on Thursday in response to a question.
Under the agreement, Meridiam will acquire a 66% stake in GSI, the special-purpose company developing the Greece-Cyprus electricity interconnector. Greece’s Independent Power Transmission Operator, known as IPTO or ADMIE, will retain the remaining 34%.
The agreement was signed on Wednesday at the Maximos Mansion in Athens.
A separate tripartite agreement between ADMIE, GSI and Nexans was also signed for seabed surveys linked to the project.
Source: CNA.
