GE LM Wind Power acquisition wins EU approval

General Electric has been granted permission by the European Commission to acquire one of the world’s biggest wind turbine blade producers in a $1.65bn deal.

The antitrust watchdog granted unconditional approval for the purchase of Denmark’s LM Wind Power on Monday, adjudging that the acquisition would not significantly reduce competition in Europe in neither the upstream market for blades for wind turbines nor the downstream market for the offshore and onshore wind turbines.

LM Wind supplies GE along with rivals Goldwin of China and Spanish Gamesa ” whose merger with Siemens was approved by Brussels one week earlier.

The commission concluded that “competing blade manufacturers would continue to have access to wind turbine manufacturers other than GE (after the GE LM Wind deal).”

In considering the market for wind turbines, it said “GE would continue to face significant competition from other major turbine manufacturers, such as Siemens, (MHI) Vestas, Nordex and Senvion, who either manufacture their blades in-house and/or are not dependent on LM Wind Power for supplies.”

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