We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

GDF Suez Unit Fined €20M For Acquisition Of Rival

Law360 (June 10, 2009, 12:00 AM EDT) -- The European Commission has slapped the Belgian unit of energy firm GDF Suez with a €20 million ($28 million) fine for failing to obtain approval from the antitrust regulator before taking over a rival electricity producer in 2003.

Electrabel SA, Belgium’s largest electricity supplier, acquired control of France’s Compagnie Nationale du Rhone without having received prior approval under European Union merger rules, the commission said Wednesday.

The infringement lasted for a significant period, and Electrabel should have been aware of its obligation to receive EC approval...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.