EU clears ABB’s acquisition of GE Industrial Solutions, dry-type transformers business
European Commission announced that it had cleared ABB’s acquisition of General Electric’s (GE) Industrial Solutions businesss.
According to Nasdaq.com, the Commission concluded that the transaction would raise no competition concerns in the relevant markets within the European Economic Area.
In September, ABB agreed to buy GE Industrial Solutions, GE’s global electrification solutions business, for $2.6 billion (see our report here).
GE Power had confirmed that ABB’s acquisition of GE Industrial Solutions will include dry-type transformers.
According to a GE statement made exclusively to Power Transformer News, ABB will not be acquiring the GE Prolec distribution transformer line (oil-filled distribution transformers).
Industrial Solutions transformers that are being acquired by ABB are dry-type transformers and Wavecast, Cast Coil Transformers.