BRUSSELS (Reuters) - French electrical gear maker Schneider Electric (>> SCHNEIDER ELECTRIC) secured European Union regulatory approval on Friday for its 3.4-billion-pound (3.40 billion pounds) acquisition of British engineering company Invensys (>> Invensys plc).

The deal, announced in July, will reinforce Schneider's high-margin industrial automation business and its presence in the fast-growing energy industry.

The European Commission said in a statement that the takeover would not pose any competition concerns.

"The activities of the two companies are complementary and the merged entity would continue to face several strong competitors in the affected markets," the EU antitrust authority said.

(Reporting by Foo Yun Chee; editing by Robert-Jan Bartunek)

Stocks treated in this article : SCHNEIDER ELECTRIC, Invensys plc