Pratt & Whitney buys shares in Aero Engines AG

The European Commission has granted clearance under the EU Merger Regulation to the acquisition of sole control by Pratt & Whitney of the US, ultimately controlled by United Technologies Corporation, over the joint venture International Aero Engines AG of Switzerland, by purchasing all of Rolls-Royce plc shares in IAE.

P&W is active in the design, manufacture and servicing of aircraft engines, industrial gas turbines, and space propulsion. IAE is a joint venture whose principal activity involves the design, production, and sale of an engine used in large commercial narrow-body.

The operation was examined under the simplified merger review procedure.

Source/Author: European Commission