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EU: Regulators approve Honeywell’s £3.4 billion buy of Elster

By  |  December 21, 2015

European Union antitrust regulators on Monday approved Honeywell International £3.4 billion purchase of Elster Group, the utility consumption metering business of Britain’s Melrose Industries, subject to conditions.

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    In July, Honeywell agreed to buy Elster, the US group’s largest purchase in more than a decade.

    The European Commission said the approval was subject to Honeywell divesting its gas metering business.

    Selling all its shares in a plant manufacturing gas meters located in Germany would completely eliminate the overlap between Honeywell’s and Elster’s activities, the Commission said in a statement.

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