EU Approves Ali Group's $4.8B Welbilt Deal With Ice Biz Sale

By Matthew Perlman (June 17, 2022, 11:40 PM BST) -- European enforcers gave a green light to Ali Group's planned $4.8 billion acquisition of Welbilt Inc. after the food service equipment suppliers agreed to unload a global ice machine business, the same fix being mulled by other competition agencies.

The European Commission said in a statement on Friday it has approved the merger, conditioned on the sale of Welbilt's global ice-making machine business, which operates under the Manitowoc and Koolaire brands. Enforcers in the U.K. and the U.S. have also raised concerns about the deal's impact on the ice machine space.

The commission's competition chief, Executive Vice-President Margrethe Vestager, said that...

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