Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • Dow

    39,760.08
    +477.75 (+1.22%)
     
  • Nasdaq

    16,399.52
    +83.82 (+0.51%)
     
  • Bitcoin USD

    70,654.18
    +909.97 (+1.30%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,964.78
    +32.80 (+0.41%)
     
  • Gold

    2,216.40
    +3.70 (+0.17%)
     
  • Crude Oil

    81.73
    +0.38 (+0.47%)
     
  • 10-Yr Bond

    4.1960
    0.0000 (0.00%)
     
  • Nikkei

    40,168.07
    -594.66 (-1.46%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE Bursa Malaysia

    1,530.60
    -7.82 (-0.51%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

EU clears GE acquisition of Danish rotor blade maker LM Wind Power

BRUSSELS (Reuters) - The European Commission said on Monday it had cleared General Electric Co's $1.65 billion acquisition of Danish rotor blade maker LM Wind Power as the merged entity would continue to face effective competition in Europe.

General Electric produces onshore and offshore wind turbines, but only has a relatively small market share, the Commission said in a statement.

LM Wind Power designs and manufactures blades that are sold to General Electric and competitors as a component for the wind turbines.

GE would continue to face competition from rivals such as Siemens, Vestas, Nordex and Senvion, who would either make their own blades or find suppliers other than LM Wind Power, the Commission said.

(Reporting By Philip Blenkinsop)