Industrial holding company General Electric (NYSE:GE) has been cleared to buy French electricity generation giant Alstom’s energy business.
US and European regulators have waved the acquisition through after the US firm pledged to offload gas turbine assets acquired via the Alstom deal to Italian company, Ansaldo Energia.
“Divestment of Alstom’s key technology to produce heavy-duty gas turbines to Ansaldo will ensure that European business and consumers continue to benefit from this innovation and know how,” said Margrethe Vestager, the EU’s competition commissioner.