Competition authority approves economic concentration between France's EDF, UAE's Masdar

23/12/2020 Argaam

The General Authority for Competition (GAC) approved the economic concentration agreement between France's EDF International and Abu Dhabi Future Energy Co. (Masdar), a subsidiary of Mubadala Investment Co.

 

Under the agreement, a joint venture (JV) named "Emerge Ltd" will be established in Abu Dhabi, GAC said in a statement.

 

In September 2019, Masdar and EDF signed an agreement to establish a 50:50 JV specializing in energy services, according to data compiled by Argaam.

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