July 19, 2013 / 10:41 PM / 5 years ago

UPDATE 1-US FTC approves GE purchase of Avio's aviation business

WASHINGTON, July 19 (Reuters) - General Electric 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.

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