EU Commission Nods NKT’s Acquisition of ABB’s Business Units

Photo: ABB

The European Commission has cleared the proposed acquisition of ABB’s high voltage cable business and power cable accessories business by NKT.

NKT announced its intention to acquire ABB’s businesses in September 2016, for a total enterprise value of EUR 836 million (USD 934 million).

The Commission concluded that the merged entity would continue to face effective competition in Europe.

In its investigation, the Commission looked at the effects on competition of the removal of one competitor, and whether the transaction would make it more likely that the remaining players could co-ordinate their competitive behaviour.

The Commission’s investigation focused on the parties’ overlapping activities for high voltage power cables, in particular, on AC submarine power cables and DC submarine power cables. NKT is a potential entrant in the market for DC submarine power cables.

Based on the results of its market investigation, the Commission found that the proposed acquisition would not result in a significant reduction in competition and that a number of strong competitors will remain post-transaction.

Share this article

Follow Subsea World News

Events>

<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Kuwait Oil & Gas Show

Kuwait Oil & Gas Show is the Kuwait International Fair Ground in Kuwait City, Kuwait. This event showcases product from Chemicals & Dyes, Electronics & Electrical Goods, Hand, Machine & Garden Tools, Petroleum, Oil & Gas, Power & Renewable Energy industries. More info

read more >

SPE Offshore Europe 2017

Attending SPE Offshore Europe, recognised by offshore E&P professionals as Europe’s leading E&P exhibition and conference, will ensure…

read more >

Offshore Site Investigation & Geotechnics Committee 8th International Conference “Smarter Solutions for Future Offshore Developments”

The conference series, which has run since 1979, offers a unique opportunity for geotechnical engineers, geoscientists and academics…

read more >

Oil & Gas Indonesia 2017

Oil & Gas Indonesia (OGI) is an exhibition focused on Oil and Gas Exploration, Production and Refining and showcases the largest exhibition…

read more >