The EC said it concluded that the proposed acquisition, which was announced on November 19, would not raise any competition concerns as the two companies' activities do not overlap and CDPQ controls no other companies which would have a significant position as a customer or supplier of BTUK.

CDPQ is paying $C 1.5bn ($US 1.1bn) for a 30% stake in BTUK in a deal which values the company at $C 5bn.