The European Commission has given the green light to NKT’s acquisition of ABB’s high voltage cables business.
The commission concluded that the combined business would “continue to face effective competition in Europe”.
NKT said the confirmation means the “transaction can be completed as planned” with closing to “take place in due course”.
Swiss company ABB announced in September last year that it planned to divest its HV cable business to NKT in a €836m deal.
Image: ABB
Europe OKs ABB/NKT cable deal
Combined unit would ‘continue to face effective competition in Europe'
By EBS