The European Commission cleared Guernsey-based investment fund EQT VI's purchase of Dutch and German bandage and plaster cast maker BSN Medical, the EU's executive arm said in a statement on Wednesday.

The deal, worth an estimated 1.8 billion euros ($2.24 billion), is one of the largest buyout deals in Europe this year.

"The merged entity would have neither the incentives nor the ability to shut out customers or competitors," the Commission's statement said.

EQT VI is part of the EQT group of private equity funds.

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