EU Greenlights GE's $4.3B Avio Buy, After Concessions

Law360, New York (July 2, 2013, 3:58 PM EDT) -- European regulators on Tuesday approved General Electric Co.’s proposed $4.3 billion buy of Italian aerospace company Avio SpA from U.K. private equity firm Cinven, saying conditions offered up by GE eased its concerns over the deal’s potential anti-competitive ramifications.

The European Commission gave the nod for GE’s acquisition after the Connecticut-based conglomerate offered up concessions that would protect the strategic information of the Eurojet consortium, which produces engines for Eurofighter combat aircraft that compete with GE-powered jets, according to the commission.

Avio is a key supplier...
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