The agreement bringing French investment group Meridiam in as majority shareholder in Great Sea Interconnector (GSI) has not been formally notified to Brussels for merger review, a European Commission spokesperson told CNA.
‘This transaction has not been formally notified to the Commission. If a transaction constitutes a merger and has an EU dimension, it is always up to the companies to notify it to the Commission,’ the Commission spokesperson said Thursday, responding to a relevant question.
The agreement, under which Meridiam acquires a 66% stake in GSI, the special purpose vehicle developing the Greece-Cyprus electricity interconnector, was signed Wednesday at the Maximos Mansion in Athens. Greece’s IPTO retains the remaining 34%. A related three-way agreement between IPTO, GSI and Nexans on seabed survey work was also signed.
CNA/EK/GV/2026S, CYPRUS NEWS AGENCY