Commission clears partial takeover of Alstom by GE

The European Commission today (8 September) gave its blessing to GE’s partial takeover of Alstom's power generation portfolio.

The US-based company, formerly known as General Electric, must sell the French company's heavy duty gas turbines business to Ansaldo.

At €12.4 billion, the acquisition represents GE's largest ever takeover, according to Reuters.

“This is a big deal,” EU Competition Commissioner Margrethe Vestager said.

The green light proved that the EU “welcomes your business, but we want you to compete,” she told reporters in Strasbourg.