Fosun International Ltd won regulatory approval from the European Commission to acquire a German automated and flexible production systems maker FFT, paving the way for the Chinese conglomerate to tap into the intelligent manufacturing sector.
The buyout, proposed by Fosun in June, raised no competition concerns, given that there are no horizontal overlaps or vertical links between the activities of the companies, the commission said in a statement.
Established in 1974, Germany-based FFT provides flexible automation turnkey solutions and customized engineering design and implementation for premium automobile manufacturers in Germany, the United States, Japan and China. The company generated . . .
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