The European Commission has cleared TRW Automotive Holdings’ proposed acquisition of a majority stake in European based airbag and steering wheel maker Dalphi Metal Espana (Dalphimetal).
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The EC has approved the transaction under European Union merger regulations, which protect competition within the European economic area.
In September, TRW announced it had agreed a deal with the founding members of Dalphimetal to purchase a 68.4% stake in the company for €113 million, or approximately $US137 million, plus the assumption of €84 of debt.
TRW expects to complete the transaction during the fourth quarter of 2005.
