EU approves GE-LM deal
Merged entity would ‘continue to face effective competition in Europe’
The European Commission has approved GE’s acquisition of Danish blade manufacturer LM Wind Power for €1.5bn under the EU merger regulation.
The commission said that the merged entity would “continue to face effective competition in Europe”.
It concluded that competitive concerns were unlikely because “GE would not be in a position to significantly affect the upstream market” mainly because competing blade manufacturers would continue to have access to wind turbine manufacturers other than the US giant.
In downstream markets, the commission decided GE would still face significant competition from other major turbine manufacturers that either manufacture blades in-house and or are not dependent on LM Wind Power for supplies.
Image: LM Wind Power