British rapid repair company Kwik-Fit (tyres, brakes etc.) is to be taken over by Japanese concern Itochu. Kwik-Fit is equally well-known in France where it operates as ‘Speedy’. The European Commission has given the green light to the takeover, after examining it for possible competition law contraventions. In all Kwik-Fit has 1,128 of its own sites in Europe, to which can be added some 900 franchised outlets. Itochu is also present in Europe, through tyre distributor Stapleton’s. The transaction has been concluded for 750 million Euros.