Baker Hughes (BKR) received conditional approval from the European Commission to acquire Chart Industries (GTLS), the regulator said Thursday.

The approval is subject to the companies complying with commitments designed to address the Commission's concerns that the deal could reduce competition in liquefied natural gas equipment and technology markets.

The companies agreed to divest Chart's proprietary IPSMR process technology and its small-scale LNG process technology business to a Commission-approved buyer. They also committed to maintaining interoperability between their equipment and third-party LNG equipment for 10 years, according to the Commission.

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