German engineering company Siemens and Spain’s Gamesa have won the unconditional antitrust approval from the European Union to create the world’s biggest maker of wind turbines, the European Commission said on Monday.
The deal combines the German company’s strength in offshore windpower and Gamesa’s strong presence in emerging markets and comes amid a wave of consolidation in the wind industry as companies try to cut costs and stay competitive.
“The Commission found that the transaction raises no competition concerns because a number of credible competitors would remain in the market,” said the EC.
The new group will have a market value of about $10.7 billion according to analysts.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Plaintiffs Seek Communications In Antitrust Case Against Pioneer
May 9, 2024 by
CPI
UK Government Approves Vodafone-Hutchison Merger
May 9, 2024 by
CPI
Senate Majority Leader Announces Plan for AI Regulation Framework
May 9, 2024 by
CPI
BBVA Initiates Aggressive Takeover Bid for Sabadell
May 9, 2024 by
CPI
TikTok to Label AI-Generated Content Amid Election Interference Concerns
May 9, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI