The Competition Council (KP) has granted permission for the European Bank for Reconstruction and Development (ERAB) to acquire joint decisive influence over Green Genius International B.V. (Green Genius) alongside MG NL Holding B.V. The KP concluded that the merger would not significantly harm competition, leading to the approval of the transaction.

ERAB is an international organization and a multilateral development investment bank that uses investments to foster the development of market economies. In Latvia, ERAB operates indirectly by exercising joint control over Eco Baltia, a company involved in recycling and waste management.

Green Genius operates in the renewable energy sector and is part of the holding company MG NL Holding B.V., which consists of several international companies specializing in various fields, including renewable energy production, automotive sales, mobility services, and innovative parking solutions. Green Genius is involved in all stages of renewable energy project development, including permitting, project design, construction, operation, maintenance, and energy trading, offering solutions in solar, wind, biogas/biomethane, storage, and green hydrogen.

Upon reviewing the information provided by the companies and available to the KP, it was determined that the merger would not significantly alter market structure, reduce competition, or create or strengthen a dominant market position for the merging parties. Therefore, the merger is permissible.

To prevent significant reductions in competition resulting from mergers, the Competition Council requires approval for transactions that meet the criteria set out in competition law. This ensures state control over market concentration to avoid structural changes that could limit consumer choices or lead to non-competitive pricing for goods and services in the long term. More information on merger control in Latvia is available on the Competition Council's website under the 'Merger Control' section.