EU Approves BPI, Constructions Industrielles De La Méditerranée JV

EU Approves BPI, Constructions Industrielles De La Méditerranée JV

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SUNCIM builds concentrated solar power plants outside of the European Economic Area (EEA).

The European Commission Thursday said it has approved the creation of the joint venture ‘SUNCIM’ by BPI Group and Constructions Industrielles De La Méditerranée (‘CNIM’), both of France, under the EU Merger Regulation.

BPI Group, ultimately owned by the French Caisse des Dépôts et Consignations and the French state, is an investment fund. The CNIM Group designs and manufactures high-tech turnkey industrial equipment and plants, and provides expertise, research and development, services and operations in the fields of environment, energy, defense and industry.

SUNCIM builds concentrated solar power plants outside of the European Economic Area (EEA). Since the joint venture has no activities in the EEA, the Commission concluded that the proposed transaction would not raise any competition concerns in the EU.