Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves acquisition of Riello Group by United Technologies Corporation, (Mar 3, 2016)

By Michael Menzhuber, J.D., LL.M.

The European Commission (EC) has approved under the European Union (EU) merger regulation the acquisition of Riello Group S.p.A of Italy (Riello) by United Technologies Corporation (UTC) of the United States, the EC announced today.

Riello manufactures and sells combustion technology and water heating appliances, which range from residential to large industrial applications. UTC is a multinational corporation that is active in the provision of high technology products and services for the building sectors and aerospace industries worldwide.

The EC concluded that the proposed acquisition would raise no competition concerns because the overlaps between the companies’ activities are limited.

Greendeli acquisition. The EC also has approved under the EU merger regulation the acquisition of Greendeli of Sweden by Nordic Capital of Jersey.

Greendeli imports, distributes, and processes fresh fruit and vegetables in Sweden, Finland, and Denmark. Nordic Capital invests in large and medium-sized companies based in the Nordic region and in German-speaking parts of Europe.

The EC concluded that the proposed acquisition would raise no competition concerns because the companies’ activities do not overlap and are very limited on related markets.

Companies: Riello Group S.p.A.; United Technologies Corporation; Greendeli; Nordic Capital

News: AcquisitionsMergers Antitrust