BRUSSELS (Reuters) - European Union antitrust regulators on Monday approved Honeywell International Inc's (N:HON) $5.1 billion (£3.4 billion) purchase of Elster Group, the utility consumption metering business of Britain's Melrose Industries Plc (L:MRON), subject to conditions.
In July, Honeywell agreed to buy Elster, the U.S. group's largest purchase in more than a decade.
The European Commission said the approval was subject to Honeywell divesting its gas metering business.
Selling all its shares in a plant manufacturing gas meters located in Germany would completely eliminate the overlap between Honeywell's and Elster's activities, the Commission said in a statement.