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EFMS GIC Acquirers Kelda Group Merger Non-Opposition

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Summary

The European Commission cleared the proposed acquisition of Kelda Group by EFMS and GIC Acquirers (Case M.12378). The Commission decided on 13 April 2026 not to oppose the notified concentration, declaring it compatible with the internal market under Article 6(1)(b) of Council Regulation (EC) No 139/2004 (EU Merger Regulation). The full decision will be published after business secrets are removed.

“On 13 April 2026, the Commission decided not to oppose the above notified concentration and to declare it compatible with the internal market.”

EC , verbatim from source
Published by EC on eur-lex.europa.eu . Detected, standardized, and enriched by GovPing. Review our methodology and editorial standards .

What changed

The European Commission issued a non-opposition decision for the proposed merger between EFMS and GIC Acquirers (acquirers) and Kelda Group (target) under Case M.12378. The decision, based on Article 6(1)(b) of the EU Merger Regulation, concludes the Commission's review phase with no opposition to the concentration.

The merging parties may proceed with the transaction. No remedies, conditions, or ongoing obligations were imposed. The full decision text will be made publicly available on the Commission's competition cases database after business secrets are removed.

Archived snapshot

Apr 20, 2026

GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.

An official website of the European Union How do you know?
1. EUROPA
2. EUR-Lex home
3. EUR-Lex - 52026M12378(01) - EN

Non-opposition to a notified concentration (Case M.12378 – EFMS / GIC ACQUIRERS / KELDA GROUP)

C/2026/2520

OJ C, C/2026/2318, 20.4.2026, ELI: http://data.europa.eu/eli/C/2026/2318/oj (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)

ELI: http://data.europa.eu/eli/C/2026/2318/oj

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Display Text

| | Official Journal
of the European Union | EN

C series |

| | C/2026/2318 | 20.4.2026 |
Non-opposition to a notified concentration

(Case M.12378 – EFMS / GIC ACQUIRERS / KELDA GROUP)

(Text with EEA relevance)

(C/2026/2318)

On 13 April 2026, the Commission decided not to oppose the above notified concentration and to declare it compatible with the internal market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings (the EC Merger Regulation) (1). The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:

| — | in the merger section of the ‘Competition policy’ website of the Commission (https://competition-cases.ec.europa.eu/search). This website provides various facilities to help locate individual merger decisions, including company name, case number, date and sectoral indexes, |

| — | in electronic form on the EUR-Lex website (http://eur-lex.europa.eu/homepage.html?locale=en) under document number 32026M12378. EUR-Lex is the online point of access to European Union law. |
(1) OJ L 24, 29.1.2004, p. 1, ELI: http://data.europa.eu/eli/reg/2004/139/oj.

ELI: http://data.europa.eu/eli/C/2026/2318/oj

ISSN 1977-091X (electronic edition)

Top

Named provisions

Article 6(1)(b)

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Last updated

Classification

Agency
EC
Published
April 20th, 2026
Instrument
Rule
Branch
Executive
Legal weight
Binding
Stage
Final
Change scope
Minor
Document ID
C/2026/2318
Docket
M.12378

Who this affects

Applies to
Investors Fund managers
Industry sector
5239 Asset Management
Activity scope
Merger clearance Concentration review
Geographic scope
European Union EU

Taxonomy

Primary area
Antitrust & Competition
Operational domain
Compliance
Topics
Banking Financial Services

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