The European Commission (EC) has approved ABB’s $2.6 billion acquisition of GE Industrial Solutions (GEIS), the global electrification solutions business of General Electric.
In a statement, the EC said: “Both ABB and GEIS are active in the design, manufacture and sale of low voltage and medium voltage products for industrial, commercial and residential applications, as well as of secured power protection systems and transformers. However, their respective geographic areas of activity are complementary, with ABB being stronger in Europe and GEIS in the US.”
For overlapping markets in the EEA, the Commission found that the merger will not impact competition as the ABB-GEIS portfolios do not significantly increase concentration of various product categories.
It added that the combined company will continue to face effective competition from multiple large-scale rivals and specialized or local suppliers.
The Commission concluded that the proposed deal would raise no competition concerns in any of the markets concerned.
Source: European Commission