(Finance) – The Competition and Market Guarantor Authority (AGCM) has decided not to start the investigation with regard to the subscription, by BF Agricola, of a stake equal to 30% of the share capital of Agreen Energy (NewCo), a special purpose vehicle established by CVA Eos, which currently controls it entirely. We read it in the weekly Antitrust bulletin.
CVA Eos is an Italian company active in the development and construction of photovoltaic and wind power systems throughout the country. CVA Eos is wholly controlled by the CVA Group, which carries out activities in the sectors of production, wholesale supply, dispatching, distribution and retail sale of electricity, as well as in the marketing of so-called certificates of origin. BF Agricola is an Italian company that carries out agricultural, zootechnical and agricultural product processing activities. BF Agricola is wholly owned by BFa holding company of the BF Group active mainly in the agro-industrial and livestock sectors and in the provision of services to operators active in the agricultural sector.
Following the transaction, BF Agricola will own a minority stake of 30% of the share capital of NewCo, while a majority stake of 70% will remain with CVA Eos. The operation is part of a collaboration project launched between the parties and their respective corporate groups for the implementation of some projects relating to construction and implementation of innovative agrivoltaic systems for the production of renewable photovoltaic electricity without compromising agricultural activity in the lands where these plants will be built.
The Antitrust has established that the operation does not significantly impede competition effective in the markets concerned and does not lead to the creation or strengthening of a dominant position.