ZF’s Purchase of WABCO Approved by EU

BRUSSELS – The German automotive component producer ZF’s $7 billion purchase of U.S.-based WABCO was approved today by the European Union.  The deal had been approved a year ago by WABCO shareholders; final consummation of the agreement had been dependent upon governmental approvals.

The EU said the agreement met antitrust parameters, offering no competition issues for the group.