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 notified with comprehensive information and the Commission cleared the acquisition on 20 March 2017.
In July of the same year, the institution sent a statement of objections to GE alleging that it had breached its procedural obligations in the first notification (see EUROPE 11824/15). Following an investigation, the Commission found that GE had indeed provided incorrect information concerning a marine wind turbine, which is why it decided to impose a fine on it. The institution considers this to be a serious infringement and has therefore set the amount of the fine at €52 million.
However, the decision to authorise the acquisition of LM Wind is not called into question in this case, as it was based on the second notification. (Original version in French by Lucas Tripoteau)