The European Commission has given the go-ahead for GKN Aerospace to acquire Fokker Technologies Group.
GKN Aerospace announced it planned to buy Fokker Technologies from Arle Capital for €706 million ($780 million) on July 28. The deal has been quickly cleared under the European Union’s simplified merger review procedure.
“The Commission concluded that the proposed acquisition would not raise competition concerns because the overlaps between the companies’ activities are very limited,” the Commission said in a statement.
UK-headquartered GKN manufactures civil and military engine components and aerostructures, including fuselage, wings and empennage parts. It is also active in repair and maintenance services. Fokker is also an aerostructures manufacturer, producing landing gears and electrical systems for civil and defense aircraft.
Following the transaction, Fokker Technologies will become a GKN Aerospace operating unit, run by its existing management team from its Netherlands headquarters. Fokker Technologies will also continue with its Netherlands-based R&D and manufacturing.
GKN is acquiring Fokker Technologies to further strengthen its engineering capabilities and geographical reach. The acquisition is expected to complete in the fourth quarter of 2015.
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