The European Commission said on September 13 that the EC has approved, under the EU Merger Regulation, the proposed acquisition of sole control over GE Distributed Power Inc. of the US, General Electric Austria GmbH of Austria and Jenbacher International BV of the Netherlands (together “GE Distributed Power Business”), by Advent International Corporation of the US.
GE Distributed Power Business manufactures and sells reciprocating gas engines, and provides aftermarket services related to these engines, including the supply of spare parts. Advent International Corporation is a private equity investor with holdings in various sectors, including financial services, industrial goods and services, consumer goods, media and telecommunication, leisure services, healthcare and pharmaceuticals.
The Commission said the EC concluded that the proposed transaction would raise no competition concerns as the companies’ activities do not overlap in the European Economic Area. The transaction was examined under the simplified merger review procedure.