Brussels, 25/07/2011 (Agence Europe) - The European Commission granted clearance on Monday 25 July to the proposed acquisition of sole control of French power conversion company Converteam Group SAS (products and engineering solutions to convert electrical energy into mechanical energy and vice versa) by US conglomerate General Electric (GE) via GE Energy (technologies for the generation of electricity from different energy sources).
The proposed acquisition, of which the Commission was notified on 31 May, leads to vertical links in a number of markets, in particular as regards large electric motors that both Converteam and GE supply to the downstream market of compressor trains, where GE is active. However, given the moderate market shares of both companies on the upstream and the downstream markets and the presence of a number of credible competitors at both levels in the EEA, the Commission concluded that the proposed transaction will not significantly impede effective competition in the EEA. (F.G./transl.rt)