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Ali Group gains conditional EU nod for $3.4 billion Welbilt acquisition

Reuters
·1-min read

BRUSSELS (Reuters) - Italian food-service equipment maker Ali group secured conditional EU antitrust approval on Friday for its $3.4 billion for Welbilt after agreeing to sell its U.S. rival's global ice-making machine business.

The European Commission said the asset divestment included three manufacturing facilities in China, Mexico and the United States.

"Following the transaction, the combined entity would become the largest manufacturer and supplier of ice-making machines in the EEA (European Economic Area) and would have faced limited competitive pressure from competitors," the EU competition watchdog said in a statement.

Ali Group operates worldwide and supplies food-service equipment to businesses ranging from hotels to schools and supermarkets.

(Reporting by Foo Yun Chee)