Italian energy company Eni is to buy the Belgian power and gas assets of Nuon Energy, which is owned by Sweden’s Vattenfall.

Eni will pay EUR157m ($227m) for electricity and gas company Nuon Belgium, renewables firm Nuon Wind Belgium and gas power plant operator Nuon Power Generation Walloon.

The deal was granted approval by the European Commission today following an investigation into possible competition issues.

Eni already has a presence in Belgium via its ownership of gas distribution company Distrigas.

Vattenfall will continue to own the Dutch assets of Amsterdam-headquartered Nuon Energy.