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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