BRUSSELS, Oct 22 (Reuters) - European Union antitrust regulators cleared on Thursday Dutch heating products maker De Dietrich Remeha's takeover of indebted British rival Baxi to create the third-biggest boiler maker in Europe.
The European Commission, competition watchdog of the 27-nation European Union, said in a statement that the transaction would not impede competition and that the merged company would continue to face several strong competitors.
"Overlaps between the activities of Remeha and Baxi are limited and ... the additional market share brought about by Remeha's acquisition of Baxi is generally small," it said.
The combined company will have sales of 1.8 billion euros ($2.7 billion), with a workforce of around 6,400 people, private equity-owned Baxi said when the deal was announced.
De Dietrich Remeha is wholly owned by Remeha Group and posted turnover of 615 million euros last year. (Reporting by Bate Felix; Editing by Dale Hudson)