Brussels, 26/06/2007 (Agence Europe) - On Tuesday 26 June, t he European Commission cleared the proposed acquisition of the British company Initial Electronic Security Group (ESG) by the US-based company United Technologies Corporation (UTC). UTC is a diversified company with activities in numerous fields. ESG offers security and fire protection systems.
The proposed transaction would give rise to overlaps on the Dutch and UK markets for alarm monitoring and for the installation and maintenance of electronic security systems. The combined market position of the new entity, however, would remain limited and the Commission's market investigation confirmed that several reliable companies capable of supplying these services to customers of all sizes would remain in the market. (cd)