EU approves EUR 1.5 billion acquisition of Danish wind company

A week after the approval of the merger between Siemens and Gamesa, the EU Commission has approved another major wind industry deal.

Photo: LM Wind Power

US-based industry group GE has been granted EU approval to acquire LM Wind Power. In a press release Monday afternoon, the Commission concludes that the deal – whereby the world's second-largest wind turbine manufacturer will acquire the largest independent blade manufacturer – would not distort competition in Europe.

"GE would not be in a position to significantly affect the upstream market. In particular since competing blade manufacturers would continue to have access to wind turbine manufacturers other than GE," says the EU in justifying the approval.

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