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EU agrees TXU purchase of German utility

28 June 2002 – The European Commission on Thursday granted its approval to plans by a German unit of U.S. TXU Corp to purchase Braunschweiger Versorgungs AG of Germany. Both firms are involved in the production and supply of power and gas.

TXU is buying a 74.9 per cent stake in the business for $400m and the Commission approved the deal under its simplified proceedure, used when neither customers nor rivals have complaints about a deal.