BRUSSELS - EU competition authorities approved on Friday German builder Bilfinger Berger AG's takeover of Austrian firm MCE AG after the companies offered remedies to ease competition concerns. Bilfinger, Germany's second-largest builder, will sell its subsidiary MCE Energietechnik GmbH and transfer a large MCE high pressure pipe project from another MCE subsidiary to the Divestment Business, the European Commission said.

In light of these commitments, the Commission has concluded that the proposed transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it, the European Union executive said in a statement. MCE is active in Austria and Germany. (Reporting by Foo Yun Chee)