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. Last Updated: 07/27/2016

EC Approves BP Buy

LONDON -- British oil giant BP Amoco PLC said Friday it had received unconditional regulatory approval from the European Commission's Merger Task Force for its acquisition of Burmah Castrol PLC.

"Receiving such prompt approval from the European Commission means that we will be able to move towards completing the deal early in the third quarter of this year" said BP Amoco chief executive John Browne in a statement.