By Edith Hancock
European Union antitrust regulators started an initial review of Spanish energy company Repsol's joint venture with U.S.-headquartered agribusiness Bunge.
The European Commission, the European Union's competition regulator, set a Feb. 21 deadline to decide whether to clear the deal or open an in-depth investigation, according to a regulatory filing published Wednesday.
Repsol and Bunge revealed plans to form a biofuel joint venture in March that would have the energy company buy a 40% stake in three of Bunge's Iberian sites for up to $340 million. The companies said at the time that the deal would give Repsol greater access to low-carbon intensity feedstocks to produce renewable fuels.
Write to Edith Hancock at edith.hancock@wsj.com
(END) Dow Jones Newswires
January 23, 2025 04:48 ET (09:48 GMT)
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