THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT WILL BE ABLE TO IMPLEMENT THE TRANSACTION

The European Bank for Reconstruction and Development (EBRD) will be able to acquire joint control of Green Genius International, a Dutch renewable energy company, together with its existing shareholders, Modus Grupe and MG NL Holding. The merger has been cleared by the Competition Council.

The notification of intended concentration was received on 22 October 2024. Having assessed the circumstances of the transaction, the Competition Council has concluded that the proposed concentration will not lead to the creation or strengthening of a dominant position or to a significant impediment to competition in the relevant markets.

The EBRD, which has 73 member countries and two international institutions – the European Commission and the European Investment Bank – provides financial services and finances projects in a wide range of areas. EBRD affiliates provide financial services, financial leasing, factoring, life insurance and other services, and are engaged in real estate development, management and administration, pension and investment fund management, software development, trading in recycled materials, recycled plastics and other products. 

Modus Grupė, registered in Lithuania, and MG NL holding, a Dutch company, and their related undertakings trade in cars, motorcycles, other vehicles, spare parts, provide car repair, rental and driving training services, manage investment funds, and lease real estate.

Green Genius International and its affiliates are involved in renewable energy projects, electricity production, sales and supply.

The intended concentration must be notified to the Competition Council and cleared if the combined total revenues of the undertakings involved in the concentration in the last year before the merger exceed EUR 20 million and the combined total revenues of each of at least two undertakings involved in the concentration in the last year before the merger exceed EUR 2 million.