USA, France: GE Takeover of Alstom Approved - Bigger Turbine Manufacturer Created

GE’s Alstom acquisition approved (renews)

The European Commission has approved U.S. company General Electric (GE)’s acquisition of Alstom’s power and grid business following an in depth review.

GE said the deal will give it access to one of the broadest and deepest renewables portfolios in the industry, allow it to improve total thermal power plant design, and provide it with a broader grid portfolio with the footprint and scale to compete globally.

The commission said it had concerns that the transaction would have eliminated one of the main global competitors of GE in the heavy duty gas turbines market, where GE is the world's largest manufacturer and Alstom is the number three or four player globally.

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