Last update: Fri, 20 Jan 2017 12pm
Home » Agriculture & Allied » Pakistan

US regulators give GE green light to Alstom buyout

US antitrust regulators said Tuesday they approved General Electric's purchase of Alstom's energy assets after the US giant agreed to divest some of the French company's key gas turbine assets. The US Department of Justice said it had worked closely with European Union antitrust regulators, who also cleared the deal Tuesday after GE agreed to sell some maintenance service assets to Italian rival Ansaldo Energia.

The take-over deal was first proposed in April 2014, but regulators objected to the concentration of assets in the lucrative market for maintaining high-power gas turbines, used mainly in electricity generating plants. This market is dominated by GE with a 50 percent share, followed by Siemens of Germany, Mitsubishi Hitachi Power Systems, Alstom, and Ansaldo Energia.

Copyright Agence France-Presse, 2015