UTC offers EU concessions

City A.M. Reporter
US CONGLOMERATE United Technologies has offered to sell assets to secure EU regulatory approval for its $16.5bn (£10.6bn) takeover of US aircraft components maker Goodrich, a person familiar with the matter said yesterday.

The European Commission has been examining the deal, UTC’s biggest in a decade and with which it aims to build critical mass in new aircraft technology and plane services as civil aviation demand recovers.

UTC, whose products include Pratt & Whitney engines and Sikorsky helicopters and which is a top player in aircraft landing gear, has proposed divestments, said the source, who declined to provide detail because of the sensitivity of the matter.