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COMMUNICATION OF THE ECOWAS REGIONAL COMPETITION AUTHORITY ON THE NOTIFICATION OF A PROPOSED ACQUISITION OF ENGIE AFRIQUE SAS BY IGNITE POWER LTD
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Purpose of the notification of the proposed acquisition
The ECOWAS Regional Competition Authority (ERCA) received a merger notification from Ignite Power Ltd and Engie Afrique SAS concerning the Acquisition of the Engie Energy Afrique SAS and its subsidiaries within the Community market by Ignite Power Ltd.
The proposed transaction constitutes the wholly control the businesses of the Engie Energy Afrique SAS and its subsidiaries in the Solar Home Systems and Mini grid and is therefore subject to notification to the ERCA under the provisions of Regulation C/REG.23/12/21. The IGNITE Power Ltd will directly acquire sold shares in 4 subsidiaries: EEA Nigeria, EEA Benin, Power Corner Benin and Fenix Engie Cote d’Ivoire. Engie Afrique SAS wholly owns EEA Benin, Power Corner Benin and Fenix Engie Cote d’Ivoire.
The notification of the transaction to ERCA, for the purpose of prior authorization, is in accordance with Article 2 (1) (a) of Regulation C/REG.23/12/21 on the rules of procedure for mergers and acquisitions in ECOWAS, the Enabling Rules PC/REX.1/01/24 on the threshold for mergers and acquisitions; and the thresholds for dominant and monopolistic positions. As the acquisition involves entities in four (4) ECOWAS member States, it is, therefore, subject to notification to ERCA under the provisions of Regulation C/REG.23/12/21.
Concerned parties
IGNITE Power Ltd is a company incorporated in Mauritius (registered in the company register of Mauritius with a company No. 125321 C2/GBL) with its registered office at c/o IQ EQ Corporate Services.
The company is in production and distribution of clean energy solutions with a large scale into infrastructure development and innovation in the energy sectors. The company’s activities also include clean power generation, solar irrigation, clean cooking, and solar-enabled internet. It also involves climate financing for clean energy and its related technologies.
Engie Afrique SAS is a company incorporated in France as a Simplified Joint Stock Company with sole shareholder (Société par Actions Simplifiées Unipersonnelle) with its address as: 1 Place Samuel de Champlain 92400 Courbevoie, France. The Engie Afrique SAS is wholly owned by Engie Energy Services SA, a société anonyme organized under the laws of France, whose registered office is located Faubourg de L’Arche, 1 Place Samuel de Champlain, 92930 Paris la Défense Cedex (France), registered under number 552 046 955 RCS Nanterre, ultimately controlled by Engie S.A.
The Engie Afrique SAS is concerned in the production of power through clean energy solutions with the expertise in renewable energy (wind and solar); generation of power (thermal and green hydrogen and desalination); and energy solutions (i.e. battery energy storage solutions). The EEA SAS operates within the community market with presence of subsidiaries using the commercial name as Engie Energy Access, in the specific products of Solar Home Systems SHS) and Solar mini- grid systems.
Concerned Subsidiaries in the Acquisition
The proposed transaction concerns all the subsidiaries of the Target in the community market, which includes underlisted:
- Engie Energy Afrique Nigeria Ltd;
- Engie Energy Afrique Benin,;
- Power Corner Benin;
- Fenix Engie Côte d’Ivoire.
Expected results of the acquisition
The proposed transaction will lead to a control of Engie Afrique SAS, with intended purpose is to ensure stability and continuity of the EA SAS operations, thus benefiting consumers and small businesses in the provision of energy solutions for off-grid populations in Africa, offering two complementary off-grid solar solutions: solar home systems (SHS) and energy supply services by connecting offices and homes to an off-grid electricity distribution network (mini-grids).
The proposed transaction is expected to offer a wide range of energy solutions, a higher standard of services and more affordable pricing on a broader geographic scope to consumers and individual buyers in the ECOWAS region, with expertise and proven technologies, thus setting the stage for substantial growth in renewable energy solutions.
Rights of third parties
Pursuant to Article 44 (2) (a) (iv) of the ECOWAS Regional Competition Authority’s Manual of Investigation and Notification Procedures, third parties are invited to submit their comments to ERCA within thirty (30) days of the publication of this communication.
Such comments shall be accompanied by any documentation capable of substantiating the facts and analyses and sent confidentially to the following address:
ECOWAS Regional Competition Authority
Bertil Harding, Bijilo, The Gambia
P.O Box 4470
Or electronically at the following email address: registry@erca-arcc.org.