BRUSSELS, Sept 3 British engineering group GKN
Plc secured EU regulatory approval on Monday to purchase
Volvo AB's aerospace unit for 633 million pounds
($1.01 billion), to boost its presence in the fast-growing civil
GKN said when it unveiled the deal in July that the civil
aviation sector is expected to almost double in size over the
next 20 years.
Volvo Aero's customers include General Electric,
Pratt & Whitney -- part of United Technologies -- and
Rolls-Royce Holdings Plc.
The European Commission said its investigation showed the
proposed deal would not significantly reduce supply options to
"The merged entity would continue to face a competitive
constraint from third parties and ... the supply options open to
customers would not be significantly reduced as a result of the
transaction," the EU executive said in a statement.