LONDON, June 16 The European Commission has
cleared Centrica's 1.1 billion euro ($1.5 billion)
takeover of the retail arm of Irish state-owned energy supplier
The EU's executive ruled that Centrica's expansion in
Ireland did not pose any problems to competition in the energy
supply market and that Bord Gais' UK business was not large
enough to give Centrica any competitive advantage there.
"The Commission ... concluded that the transaction would not
raise competition concerns," it said in a statement on Monday.
The deal includes the takeover of Bord Gais' electricity and
gas supply business, Ireland's largest, and a 445-megawatt
gas-fired power plant.
It is expected to close in the coming weeks.
($1 = 0.7345 Euros)
(Reporting by Karolin Schaps; Editing by Mark Potter)