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Italy: General Electric earns EU approval for aviation buyout

By  |  July 3, 2013
Italy: General Electric earns EU approval for aviation buyout

General Electric received approval by the European Commission to acquire Italy-based Avivo, which specializes in the manufacturing of aviation equipment, on Tuesday. According to the Commission’s press release, US-based General Electric agreed to concessions that ensured ensuing competition between aircraft powered by GE motors and its competitor Eurojet, of which Avio is a member. Eurojet manufactures engines for the combat aircraft Eurofighter, which is used by various EU states. The Commission did not provide details on the concessions offered by GE.

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