The European Commission has cleared German automotive parts suppliers Behr and Hella Hueck to create a joint venture to supply engine cooling and vehicle air conditioning parts.

Regulators carried out a full investigation of the venture after an unnamed competitor complained, the Commission said, according to Dow Jones.

The investigation reportedly confirmed the new Germany-based company, to be called Behr Hella Service, will become the German market leader but "the combined market shares of Behr and Hella do not raise concerns," the commission said in a statement. A large number viable competitors remain, reducing "the risk of higher prices," the Commission added, according to Dow Jones.

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