The European Commission said it has cleared General Electric Co's General Electric Capital Corp unit Hawk Acquisition Corp's acquisition of US-based Heller Financial Inc.
The Commission said that although both companies have overlapping activities in Europe in factoring and equipment finance, the transaction does not raise any competition concerns.
In factoring, the companies will face competition from a number of players, and in equipment finance the companies' combined market share will not exceed 15% in any member state where they are present.
The Commission also said that potential vertical relationships between GE's manufacturing activities and equipment financing following the acquisition will have no material competitive impact on the company's position in these markets.
Source: Asia Africa Intelligence Wire
