EU regulators approve Honeywells buy of Elster subject to conditions


EU regulators approve Honeywell's buy of Elster subject to conditions

Tuesday, Dec 22, 2015

European Union antitrust regulators on Monday approved Honeywell International Inc's $5.1 billion purchase of Elster Group, the utility consumption metering business of Britain's Melrose Industries Plc, subject to conditions.

In July, Honeywell agreed to buy Elster, the U.S. group's largest purchase in more than a decade.

The European Commission said the approval was subject to Honeywell divesting its gas metering business.

Selling all its shares in a plant manufacturing gas meters located in Germany would completely eliminate the overlap between Honeywell's and Elster's activities, the Commission said in a statement.

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