American spirits maker Beam has been granted regulatory clearance from the European Commission for its pending acquisition by Japan-based brewing and distilling company Suntory.
In January 2014, the Japanese firm had agreed to acquire Beam in a deal worth $16bn.
The transaction is expected to be completed in the second quarter of 2014.
Following, the completion of the transaction, Beam's shares are no longer expected to trade on the New York Stock Exchange.
Beam president and CEO Matt Shattock said that regulatory clearance from the European Commission paves the way to complete the transaction with Suntory Holdings next week.
"Our portfolios and operations are highly complementary, so we'll be focused on sustaining our momentum and generating sales synergies as we bring our companies together," added Shattock.
On 25 March 2014, Beam has also received approval for the transaction from its shareholders.
