Changeflow GovPing Government & Legislation Case M.12378 - EFMS / GIC Acquirers / Kelda Gro...
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Case M.12378 - EFMS / GIC Acquirers / Kelda Group Non-Opposition

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Summary

The European Commission issued a non-opposition decision for Case M.12378 (EFMS / GIC Acquirers / Kelda Group), clearing the notified concentration under Article 6(1)(b) of Council Regulation (EC) No 139/2004. The Commission declared the concentration compatible with the internal market. The full decision will be published in English after removal of business secrets.

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What changed

The European Commission issued a non-opposition decision for the notified concentration involving EFMS, GIC Acquirers, and Kelda Group on April 13, 2026. The decision was published in the Official Journal on April 20, 2026.

Parties involved in mergers, acquisitions, or joint ventures requiring EU merger control review should note that this clearance demonstrates the Commission's willingness to approve concentrations that do not raise competition concerns under the EC Merger Regulation. The full decision text will be made available on the Commission's competition-cases portal.

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.

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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)

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Named provisions

Article 6(1)(b) EC Merger Regulation

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Last updated

Classification

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

Who this affects

Applies to
Investors Fund managers Companies with EU operations
Industry sector
5239 Asset Management
Activity scope
Merger clearance Concentration review Competition law compliance
Geographic scope
European Union EU

Taxonomy

Primary area
Antitrust & Competition
Operational domain
Legal
Topics
Corporate Governance Financial Services

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