U.S. automaker General Motors GM.UL won permission from the European Commission on Thursday to buy Delphi Steering Business and four U.S. sites of auto parts maker Delphi Corp.

The Commission, the executive arm of the 27-nation European Union, said in a statement that the transaction would not raise competition concerns in the European Economic Area.

The merged entity will have very small market shares and will continue to face several strong, effective competitors with significant market shares, the EU executive said in a statement.

(Reporting by Bate Felix)