The European Commission has approved Mercuria Energy's takeover of restructured Aegean Marine Petroleum Network Inc.
It concluded that the proposed transaction would raise no competition concerns as the companies have a limited position in the markets where their activities overlap.
The transaction was examined under the simplified merger review procedure, it added.
Last week, Aegean said its reorganisation plan had been confirmed by a US bankruptcy court.
This paves the way for the company to emerge from Chapter 11 restructuring this week .
Aegean has reached a global settlement with its various creditor groups, including Mercuria, the official committee of unsecured creditors, American Express Travel Related Services and certain holders of its unsecured convertible notes.
Aegean revealed potential fraud at the company last year.
It said up to $300m of its assets were funnelled to OilTank Engineering & Consulting after a 2010 deal to build an oil terminal in Fujairah.
And it alleged $200m in accounts receivable were to be written off as non-collectable.
Auditors said those transactions, with shell companies, were carried out to obscure misappropriations to OilTank.
