The European Commission said it has cleared the creation of Spain's travel services group Amadeus IT Group SA and US-based Sabre Holdings's proposed joint venture Moneydirect.

The commission concluded that the transaction would not significantly impede effective competition in the EU or any substantial part of it.

Sabre Holdings is the parent of the online service Travelocity.com. Amadeus is owned by WAM Acquisition, whose shareholders are BC Partners, Cinven, Air France, Iberia SA and Lufthansa AG.

Amadeus and Sabre are both active in the travel industry, managing the distribution and selling of travel services, in particular by means of their global distribution systems.

Moneydirect will be active in the field of payment processing and clearing systems.

Source: Reuters

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