The European Commission has approved the acquisition of German power grid operator Amprion by real estate firm Molaris and asset management group Commerz Real, a unit of Commerzbank.

“The Commission concluded that the transaction would not raise significant competition concerns, as there will be only negligible changes on any of the markets affected vertically and horizontally,” the EU said in a statement.

The European Commission, which acts as competition regulator for the 27-member European Union, said it had studied various aspects of the deal, such as the impact on high voltage electricity transmission, power generation, and the wholesale and retail supply of electricity.

Amprion is currently controlled by German utility RWE which has sold the 74.per cent stake sale as part of the its wider EUR2.5bn (US$3.6bn) share sale to cut its debt. This debt comes after RWE purchased a Dutch rival in 2009 and subsequently saw its earnings cut as Germany decided to exit nuclear power.

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