Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-10-23-Speech-2-314"
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"en.20071023.25.2-314"2
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"The Commission approved the merger of Gaz de France (GDF) and the Suez Group in November 2006, subject to commitments by the parties, which allowed the Commission to conclude that the merger would not significantly impede competition.
The commitments entered into by the merging parties include, most notably, the divesture of Suez shares in Distrigas, the Belgian gas incumbent, which has, as you are aware, also entered the French market, the divesture of GDF shares in the alternative Belgian gas and electricity provider SPE and the abandonment of any control, by law or de facto, Suez has over the Belgian gas transmission network operator Fluxys.
While GDF Suez is allowed to remain a shareholder of Fluxys, specific arrangements will guarantee that the latter is managed in an independent way, and this outcome is entirely consistent with the policy objectives pursued by the Commission regarding the liberalisation of the energy markets in Europe, in particular the package of proposals of September 2007.
The Commission decision on the merger provides that the parties must proceed with the divesture of their ownership, including a partial divesture of participation in Fluxys, and with the other commitments, including those relating to Fluxys governance, within a certain divesture period. The parties have to fully comply with the commitments in order to legally implement the merger. In the mean time, the parties have to respect certain obligations, which the Commission will oversee with the assistance of the monitoring trustees."@en1
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