EU Commission approves Khazna–ENI joint venture, says it does “not raise competition concerns”

Brussels – The European Commission has approved, under the European Merger Regulation, the creation of the joint venture between Khazna Data Center Holdings Limited of the United Arab Emirates and ENI. According to a press release by the European Commission, the transaction primarily relates to “the construction, management and operation of data centres.”

Khazna is a data centre developer and operator based in Abu Dhabi, United Arab Emirates, specialising in the design, construction and management of data centre facilities. It is a subsidiary of Group 42 Holding LTD, an artificial intelligence and technology group based in Abu Dhabi, United Arab Emirates. ENI is the parent company of the ENI Group, the global oil and gas group headquartered in Rome and listed on the Milan Stock Exchange (part of the FTSE MIB index) and on the New York Stock Exchange. ENI operates globally in the exploration, production, refining and marketing of oil and natural gas, as well as in the generation and sale of electricity and the transition to alternative energy solutions.

The Commission has concluded that the notified transaction would not raise competition concerns, given the limited combined market position of the companies resulting from the proposed transaction. The Commission examined the notified transaction under the simplified merger control procedure.