BRUSSELS -- The European Commission on Tuesday approved plans by German steel maker ThyssenKrupp to buy troubled French car parts maker Sofedit.
Sofedit operates in France, Poland, Spain, Brazil and Britain.
"The operations presents only limited overlaps, which do not give rise to serious competition concerns," the Commission said in a statement.
The Commission said that Sofedit had serious financial troubles and the purchase "will provide the necessary financial resources for a continuation of Sofedit's business".
It said the overlaps were in the making of stamping parts, welded subassemblies and axles and suspension components.