EU clears EADS, Singapore Technologies aircraft venture

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The European Commission on Friday cleared the planned joint control by EADS and Singapore Technologies Aerospace of Elbe Flugzeugwerke GmbH.

EFW, currently solely owned by EADS, is engaged in setting up a new passenger to freight aircraft conversion for the Airbus A330, maintenance, repair and overhaul services and the production of components for Airbus aircraft.

The Commission concluded that the transaction would not raise competition concerns because it would not significantly alter the market structure, Reuters reports.