(BRUSSELS) - EU competition regulators on Tuesday conditionally approved a bid by French building materials group Saint-Gobain for the Maxit industrial mortar unit of German group HeidelbergCement.

The European Commission cleared the proposed acquisition of Maxit Holding AB of Sweden by Compagnie de Saint-Gobain, subject to the promised sale of two Maxit subsidiaries, involved in producing and selling gypsum-related products.

"The commitments submitted by the parties will ensure that customers depending on the use of gypsum-related products, such as the cement or the ceramics industry, can still rely on a competitive market for their inputs," said EU Competition Commissioner Neelie Kroes in a statement.

Saint-Gobain announced last year it would acquire Maxit for 2.1 billion euros (3.2 billion dollars).

Maxit, which is based in Sweden and had sales last year of 1.2 billion euros, also produces pre-mixed building material. It employs 5,130 workers in more than 30 countries, with principal markets in Germany and northern Europe.

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