BRUSSELS, Aug. 3 (Xinhua) -- The acquisition of a Chinese insurance company by Germany's ERGO Versicherung AG (ERGO) together with China's Shandong Hi-Speed Group Corporation (SDHS) was cleared at the European Union (EU) level on Monday.
The European Commission concluded that the proposed acquisition of Taishan Property & Casualty Insurance would raise no competition concerns, as the company has no actual or foreseen activities within the European Economic Area, the Commission said in its daily press release.
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