U.S. regulator approves General Electric to buy Converteam with condition, which a French maker of motors for oil and gasoline refineries. Both GE and Converteam make the high-efficiency motors, are sometimes the only bidders when companies seek to buy the motors.
GE’s energy business has made $11 billion worth of acquisitions in the past year, European antitrust regulators already approved that deal this July.
Converteam also makes machinery to connect renewable power sources such as wind turbines to the electric grid.
GE's energy unit, which is buying Converteam, accounted for a quarter of GE's 2010 revenue.
Other GE's ernergy deals include the $3 billion takeover of Dresser Inc, that makes gas engines used in oil production and mining.
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