EU okays Tech Data buy of Triade Holding
BRUSSELS, Sept 22
BRUSSELS, Sept 22 (Reuters) - U.S. technology products company Tech Data Corp (TECD.O) and electronics product company Brightstar Europe won European Union regulatory approval on Wednesday for its takeover of Dutch firm Triade Holding.
Tech Data said in August that the deal's total enterprise value, including assumed debt, was about 145 million euros ($192.7 million), with benefits expected in the fiscal year 2011 earnings.
The European Commission, the EU competition watchdog, said the deal would not pose any competition concerns.
"The combined market shares of the parties remain moderate in all of these markets. The Commission's investigation also confirmed that the parties would continue to face a sufficient number of competitors in these markets," the EU executive said in a statement. (Reporting by Foo Yun Chee, Editing by Charlie Dunmore)