EU regulators ok Credit Suisse and GE plan

5 September 2006

European regulators have given the go-ahead to Credit Suisse and General Electric to launch a global infrastructure investment project

The joint venture by the Swiss bank and the US-based energy company is expected to see up to $1 billion invested in energy infrastructure projects worldwide, according to reports from the Associated Press.

The deal was first announced in May this year, with both parties saying that they each intended to invest $500 million, with power generation, transmission and gas supply systems all likely investment targets.

Transportation infrastructure, such as airports and railway lines, are also likely to see some of the money being offered.

However the agreement between the two firms needed regulatory approval in case of antitrust concerns or objections from rival investors.

Associated Press reports, however, that with the absence of objections from rival parties, the European Commission was able to fast-track the application procedure, allowing the substantial investment package to go ahead.

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