The European Commission said Tuesday that it has approved the creation of a joint venture by Innogy SE (IGY.XE) and the European Energy Exchange AG.
The venture will develop and operate an online price comparison and intermediary platform for German retail energy suppliers in the business-to-business segment, the European Commission said.
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The proposed acquisition would raise no competition concerns given the joint venture's limited activities in the European Economic Area, it said.
Innogy, controlled by RWE SE (RWE.XE), is a Germany-based energy company active in infrastructure, supply and renewable energy.
European Energy Exchange develops and operates exchanges for energy and commodity products, and is controlled by Deutsche Boerse (DB1.XE).
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(END) Dow Jones Newswires
December 05, 2017 07:53 ET (12:53 GMT)