Commission approves Chevron’s takeover of Renewable Energy Group

The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Renewable Energy Group by Chevron Corporation, both of the US.
REG is active in the production of biodiesel and renewable diesel, and in the sales of carbon credits, petroleum-based products, and petroleum-based products further blended with bio-based diesel.
Chevron Corporation produces crude oil and natural gas, transportation fuels, lubricants, petrochemicals and additives.
The Commission concluded that the proposed acquisition would raise no competition concerns, given the overlaps between the companies' activities are very limited and in any event do not affect the European Economic Area.
The transaction was examined under the simplified merger review procedure.