GE: Rosneft joint venture approved by EU
(CercleFinance.com) - On Friday US conglomerate GE and Russian energy giant Rosneft obtained regulatory approval from the EU for their joint project to develop industrial Internet in Russia.
Last year both companies signed a joint agreement to use digital technologies in the production activity of Rosneft, especially in refining and petrochemical industries.
The European Commission said the transaction would not raise competition concerns because the joint venture has "negligible" activities in Europe.
As such, the deal has been examined under the simplified merger review procedure by the EU watchdog.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Last year both companies signed a joint agreement to use digital technologies in the production activity of Rosneft, especially in refining and petrochemical industries.
The European Commission said the transaction would not raise competition concerns because the joint venture has "negligible" activities in Europe.
As such, the deal has been examined under the simplified merger review procedure by the EU watchdog.
Copyright (c) 2018 CercleFinance.com. All rights reserved.