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

 |  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.

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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