EU competition regulators have approved the purchase by US private equity fund Cerberus of an 80% stake in US carmaker Chrysler from parent company DaimlerChrysler.
The European Commission said it had 'granted clearance' to the deal after a fast-track review for antitrust conflicts reserved for transactions not believed to pose any competition problems.
German car giant DaimlerChrysler announced in May that it had agreed to sell a stake of 80.1% in Chrysler to Cerberus for €5.5 billion or $7.3 billion.
The deal would allow the German group, which will retain the remaining 19.9% in Chrysler, to focus on its profitable Mercedes brand and its heavy trucks division.
