(BRUSSELS) - EU regulators on Thursday approved US pharmaceutical company Schering-Plough's 11-billion-euro (16 billion-dollar) takeover of the Organon BioSciences drug unit of Dutch-Swedish rival Akzo Nobel.

The European Commission gave the green light to the deal after Schering-Plough promised to sell businesses where the merged company would have a crushing grip on the market.

"In light of these commitments, the Commission concluded that the proposed transaction would not significantly impede effective competition," it said in a statement.

Akzo Nobel agreed to sell Organon BioSciences, which has a leading position in gynecological drugs such as birth control pills and fertility hormone treatment, and develops animal health products such as pet vaccines.

Although the Commission saw no competition problems in products for humans, it found that the merged company would have a stranglehold over some markets for animal treatments.

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