France OKs GDF Utility Purchase With Conditions

Law360, New York (February 25, 2011, 4:07 PM EST) -- France's antitrust watchdog on Friday gave GDF Suez Group permission to take over a group of heat utility companies on the condition that the electricity giant let two French cities exit long-term service contracts without penalty.

The French Competition Authority cleared GDF Suez's purchase of the remaining 76 percent of Ne Varietur Group that it did not already own based on GDF Suez's antitrust commitments.

The regulator had expressed concerns about letting two players in an already highly concentrated market combine. Ne Varietur is a holding...
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