ECONOMY - FINANCE / Competition

A €52 million fine against General Electric for providing incorrect information when LM Wind was acquired

Brussels, 08/04/2019 (Agence Europe)

The European Commission imposed a €52 million fine on General Electric (GE) on Monday, 8 April for incorrect information provided in connection with the acquisition of LM Wind. 

In January 2017, GE notified the Commission of the acquisition of LM Wind. As the Commission realised that GE had then provided incorrect information concerning the development of a marine wind turbine, it withdrew its notification on 2 February of the same year. Eleven days later, a new proposed transaction was...