Europe clears acquisition of LM Wind Power Holding by General Electric
The Commission concluded that the merged entity would continue to face effective competition in Europe.
General Electric produces onshore and offshore wind turbines. LM Wind Power designs and manufactures blades that are sold to General Electric and its competitors as a component for the wind turbines.
The Commission's investigation focused on the effect of the transaction both on the upstream market for the manufacture and supply of wind turbine blades, as well on the downstream markets for the manufacture and supply of onshore and offshore wind turbines.
General Electric has a relatively small market share in both onshore and offshore wind turbines.
Although LM Wind Power has a significant market share, its market position has been decreasing in the past few years and in-house blade production also has to be taken into account.
Based on the results of its market investigation, the Commission concluded that competitive concerns would be unlikely to arise after the transaction. ■