PepsiCo gains EU clearance to buy Pepsi Bottling

BRUSSELS Oct 27 (Reuters) - U.S. soft drink maker PepsiCo Inc (PEP.N) gained European Union regulatory approval on Tuesday to buy bottling unit Pepsi Bottling Group PGB.N.

The European Commission, executive arm of the 27-country European Union, said the transaction would not impede competition in Europe or any substantial part of it, although the companies' businesses had overlaps.

"The proposed transaction would not significantly change the market structure. Consequently, the Commission concluded that the transaction would not raise competition concerns," the EU executive said in a statement.

PepsiCo earlier won EU clearance to take over Pepsi Americas PAS.N. (Reporting by Bate Felix, editing by Dale Hudson)