French electricity company Direct Energie said Friday the country's antitrust authority had approved its acquisition of a 46% stake in power company Poweo (ALPWO.FR.

Direct Energie had said in July it had signed an agreement to buy the 46% stake held by Austrian utility Verbund AG (VER.VI) at a price of EUR4.77 a share, or a total of EUR36 million.

The first half of the payment is expected to be completed in October and the other half on July 1, 2013.

Direct Energie doesn't intend to acquire additional shares in Poweo and plans to retain its listing on the French stock market.

-By Noemie Bisserbe, Dow Jones Newswires; +33 1 4017 1740; noemie.bisserbe@dowjones.com

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