Baker Hughes wins EU approval for $13.6 billion Chart Industries deal

Chart Industries makes industrial equipment including valves and measurement technology for gas and liquid molecule handling. The company has 65 manufacturing locations and more than 50 service centres globally.

Baker Hughes announced the deal in July last year to expand its industrial technology footprint in liquefied natural gas and data centres. The company said the transaction would help leverage its industrial and energy technology portfolio.

Baker Hughes secured conditional EU antitrust approval for its $13.6 billion acquisition of Chart Industries after agreeing to sell part of Chart's business.

The European Commission said the concessions address concerns that Baker Hughes could favor Chart's LNG business. The companies will divest Chart's proprietary process technology and its small-scale process technology business, and they will also ensure interoperability of their equipment with third-party LNG equipment. The remedies will remain in place for 10 years.