On Tuesday, US conglomerate General Electric won European Union's clearance. GE made a US$4.3 billion bid for Avio, an Italian plane components manufacturer. GE acquired the contract when it agreed to protect strategic data connected to the Eurofighter project.
Avio was the vital supplier to the Eurofighter. On the other hand, GE engines powered fighter planes that vied against the components maker.
The European Commission stated that concessions proposed by GE were enough to ease concerns. EU initially thought the company just wanted to access the strategic information regarding its rivals.
"GE offered a series of commitments which will ensure that the Eurojet consortium's strategic information is properly protected and that Eurojet and Eurofighter can continue to participate in future campaigns for export sales," the EU competition expert said.
"Avio will continue to fulfill its share of the consortium's production based on Italy's contribution to this important European military program," GE said.
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