The European Commission Tuesday cleared U.K. defense firm BAE Systems PLC (BA.LN) to buy the remaining 45% of its shipbuilding and naval support joint venture with VT Group (VTG.LN).

The joint venture, BVT Surface Fleet Ltd., was set up in June last year. VT, a U.K.-based defense and support services company, had a put option on the sale of its part of BVT for at least GBP380 million from July 2009.

-By Carolyn Henson, Dow Jones Newswires; +32 2 741 1481; carolyn.henson@dowjones.com
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