EU clears Omnium car parts purchase

EU regulators have cleared French company Plastic Omnium's stake in a joint venture between German car part manufacturers Hella and Behr.

"The deal will have little impact on competition as there are other manufacturers with significant activities in the relevant market and auto manufacturers enjoy considerable buyer power," said the European Commission on Friday.

The joint venture will specialise in car parts such bumpers, front lights and radiator systems.

The venture was cleared under the EU's 'fast track' merger control procedure, where deals are approved automatically if no third-party complaints are received by Brussels within 25 days of notification.

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