The European Commission Monday approved the acquisition of U.S. luggage maker Samsonite Corp. by London-based private-equity firm CVC Capital Partners.

The European Union's antitrust watchdog cleared the deal under a simplified fast-track approval process after identifying no antitrust problems and receiving no complaints from rivals within 25 working days.

Samsonite had already agreed to the sale for 1.11 billion U.S. dollars a month before, after its board unanimously approved the deal, which is expected to close in the fourth quarter.

Samsonite, founded in 1910 in Denver, manufactures and distributes luggage and travel-related products under its namesake brand and others such as American Tourister, Lacoste and Timberland.

It reported a net loss of 6.8 million dollars on revenue of 1.07 billion dollars for the fiscal year ending Jan. 31.

The company is planning to move its headquarters from London to Mansfield, Massachusetts, by the end of this year.