FTC approves GE purchase of Avio's aviation business

WASHINGTON Fri Jul 19, 2013 6:41pm EDT

WASHINGTON (Reuters) - General Electric (GE.N) won U.S. antitrust approval for its $4.3 billion bid for Italian plane components maker Avio's aviation business, the Federal Trade Commission said on Friday.

The FTC approval was contingent on GE agreeing to not interfere with Avio's AeroEngine division's development of a key engine component for GE rival Pratt & Whitney.

In particular, Avio makes the accessory gearbox for Pratt & Whitney. Only GE and Pratt & Whitney make engines for Airbus's A320neo aircraft, the FTC said.

General Electric won EU clearance for the transaction on Tuesday, after agreeing to protect strategic information related to the Eurofighter project. Avio is a key supplier to the Eurofighter, which competes with other combat planes powered by GE engines.

(Reporting by Diane Bartz; Editing by Ken Wills)

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Comments (1)
jimh615 wrote:
Yeah, I’m sure American owned GE will adhere to that promise….not!!!!!

Jul 21, 2013 6:45pm EDT  --  Report as abuse
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