EU approves GE takeover of Alstom with conditions

Associated Press

EU approves GE takeover of Alstom with conditions

BRUSSELS (AP) — The European Union has approved General Electric's $14.1 billion takeover of the power and transmission division of French company Alstom, pending the sale of key parts of Alstom's heavy duty gas turbines business.

Tuesday's decision comes in the wake of an investigation to see if the takeover would distort the market. EU Antitrust Commissioner Margrethe Vestager said the approval of the deal depended on the sale of the gas turbines division since it would have hurt competition in a sector she sees as key to fighting climate change.

Still, she said the approval of the deal "shows that Europe is open for business and that Europe-based technology can thrive and attract foreign investment."

Vestager said parts of the heavy duty gas turbine business would be sold to Italy's Ansaldo.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Latest Energy Jobs

View more Job Listings >>

Archived Articles

PennEnergy Articles
2008 | 2009 | 2010 | 2011 | 2012 | 2013

OGJ Articles
2011 | 2012 | 2013

OGFJ Articles
2011 | 2012 | 2013

Power Engineering Articles
2011 | 2012 | 2013

Power Engineering Intl Articles
2011 | 2012 | 2013

Utility Products Articles
2011 | 2012 | 2013

HydroWorld Articles
2011 | 2012 | 2013

COSPP Articles
2011 | 2012 | 2013

ELP Articles
2011 | 2012 | 2013