The EU has cleared the acquisition of a Danish wind firm by a US turbine manufacturer.
The agreement for General Electric (GE) to buy LM Wind Power of Denmark was approved under the EU Merger Regulation, which concluded that the joint entity would continue to face effective competition in Europe.
Currently, LM Wind Power designs and manufactures blades that are sold to GE and its competitors as a component for the wind turbines.
Based on the results of its market investigation, the EU said competitive concerns would be unlikely to arise after the transaction, mainly because competing blade manufacturers would continue to have access to wind turbine manufacturers other than GE.
GE will also continue to face significant competition from other major turbine manufacturers, such as Siemens, Vestas, Nordex and Senvion, who are not dependent on LM Wind Power for supplies.
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