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EU clears GE acquisition of Danish rotor blade maker LM Wind Power
March 20, 2017 / 3:39 PM / 8 months ago

EU clears GE acquisition of Danish rotor blade maker LM Wind Power

BRUSSELS (Reuters) - The European Commission said on Monday it had cleared General Electric Co’s (GE.N) $1.65 billion acquisition of Danish rotor blade maker LM Wind Power as the merged entity would continue to face effective competition in Europe.

The logo of General Electric is pictured at the 26th World Gas Conference in Paris, France, June 2, 2015. REUTERS/Benoit Tessier

General Electric produces onshore and offshore wind turbines, but only has a relatively small market share, the Commission said in a statement.

LM Wind Power designs and manufactures blades that are sold to General Electric and competitors as a component for the wind turbines.

GE would continue to face competition from rivals such as Siemens (SIEGn.DE), Vestas (VWS.CO), Nordex (NDXG.DE) and Senvion (SENG.DE), who would either make their own blades or find suppliers other than LM Wind Power, the Commission said.

Reporting By Philip Blenkinsop

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