EC clears concentration between Goldman Sachs and Constellation Energy Commodities

The Official Journal of the European Union, OJEU, has published on February 27th 2009, Commission's authorisation for the announced concentration between Goldman Sachs and Constellation Energy Commodities.

On January 23rd 2009 the European Commission received the notification of a proposed concentration pursuant to Article 4 of the Merger Regulation (EC) No 139/2004, whereby J. Aron & Company, a New York general partnership operated and controlled by The Goldman Sachs Group, Inc., will acquire from Constellation Energy Commodities Group, Inc., which is ultimately controlled by Constellation Energy Group, Inc., all of the rights and obligations in relation to specified contracts that constitute substantially all of the assets of its International Commodities Business.

Main activities of concerned undertakings

  • The Goldman Sachs Group, Inc. (Public, NYSE:GS): A bank holding company and a leading global investment banking, securities and investment management firm that provides a wide range of banking, securities and investment services worldwide.
  • Constellation Energy Commodities: Commodities trading and ancillary services with primary focus on global coal trade and freight services. Negligible activity in energy-related commodities, such as electricity, gas and emissions, which is being wound down.

After examining the facts and hearing all interested parties, Commission decided on February 23rd 2009, not to oppose such notified concentration and to declare it compatible with the common market.