UK Watchdog Clears Way for EDF Acquisition of GE Nuclear Operations
May 25 2023 - 02:02AM
Dow Jones News
By David Sachs
The U.K. Competition and Markets Authority said Thursday that it
won't refer Electricite de France's proposed acquisition of General
Electric's nuclear steam-power business to an in-depth
investigation, clearing the way for the deal.
The regulator, known as CMA, had been investigating the deal
between the French state-controlled utility and the U.S.-based
conglomerate's GE Steam Power company to see if it substantially
lessened competition in the U.K.
EDF last year said that it would take over the manufacturing of
conventional island equipment for new plants, including the
Arabelle steam turbines, as well as maintenance and upgrades for
existing plants, for an undisclosed price. Steam-turbine technology
for future nuclear plants, such as the next generation of European
pressurized reactors and small modular reactors, is also part of
the deal.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
May 25, 2023 02:47 ET (06:47 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
General Electric (NYSE:GE)
Historical Stock Chart
From Aug 2023 to Sep 2023
General Electric (NYSE:GE)
Historical Stock Chart
From Sep 2022 to Sep 2023
