Brussels, 1 February 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of Emerald JV Holdings L.P. (‘Emerson’) by Blackstone Inc., both of the US.
Emerson holds the standalone commercial-and-residential climate technologies business of Emerson Electric Co., comprising a portfolio of products and services in the heating, ventilation and air conditioning and refrigeration technology sectors. Blackstone is a global asset manager headquartered in the US with offices in Europe and Asia.
The Commission concluded that the proposed acquisition would raise no competition concerns, given the absence of horizontal overlaps and vertical links between the companies’ activities in the European Economic Area. The transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.10989.
Source – EU Commission