By David Sachs 
 

The U.K. Competition and Markets Authority said Thursday that it won't refer Electricite de France's proposed acquisition of General Electric's nuclear steam-power business to an in-depth investigation, clearing the way for the deal.

The regulator, known as CMA, had been investigating the deal between the French state-controlled utility and the U.S.-based conglomerate's GE Steam Power company to see if it substantially lessened competition in the U.K.

EDF last year said that it would take over the manufacturing of conventional island equipment for new plants, including the Arabelle steam turbines, as well as maintenance and upgrades for existing plants, for an undisclosed price. Steam-turbine technology for future nuclear plants, such as the next generation of European pressurized reactors and small modular reactors, is also part of the deal.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

May 25, 2023 02:47 ET (06:47 GMT)