The European Bank for Reconstruction and Development (EBRD) has been given the green light to acquire joint control of Green Genius International alongside existing shareholders Modus Grupe and MG NL Holding, as approved by the Competition Council.

The Competition Council reviewed the transaction and determined that it would not result in the creation or strengthening of a dominant position or pose a significant obstacle to competition in the relevant markets.

EBRD, with 73 member countries and ties to the European Commission and the European Investment Bank, offers financial services and funds projects across various sectors. Modus Grupe and MG NL Holding, along with their subsidiaries, are involved in automotive trading, investment funds, real estate leasing, and other services. Green Genius International focuses on renewable energy projects and electricity production.

For a concentration to proceed, it must be notified to the Competition Council and cleared if the combined revenues of the involved undertakings in the year before the merger surpass EUR 20 million, with at least two undertakings having revenues exceeding EUR 2 million each.