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US: FTC to allow GE’s $4.3B aviation parts purchase

By  |  July 22, 2013
US: FTC to allow GE’s $4.3B aviation parts purchase

The US Federal Trade Commission announced last Friday its clearance of General Electric’s buyout of aviation parts manufacturer Avio, following approval from the European Commission for the deal just days prior. The buyout will be made for $4.3 billion, say reports. Avio supplies GE with various parts for airplane engines including accessory gearboxes and turbine systems. As part of the agreement, GE reportedly agreed to ensure the continuance of Avio’s supply of gearboxes to rival company Pratt & Whitney.

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