Press Release: Mergers: Commission approves acquisition of power conversion company Converteam by General Electric

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of sole control of French power conversion company Converteam Group SAS by US conglomerate General Electric (GE) via GE Energy. After examining the operation, the Commission concluded that the transaction would not raise competition concerns in the European Economic Area (EEA) because of the parties' moderate market shares and the presence of a number of credible competitors in the markets concerned.