Economics Zone World, a subsidiary of Dubai World, has completed its purchase of industrial developer Gazeley following European regulatory approval.

It is thought that EZW paid over £300m for Gazeley, and the approval now marks the completed deal.

EZW agreed to purchase Gazeley from Walmart in June 2008 as part of its wider global market strategy.

Chief executive officer of EZW, Salma Hareb, said: ‘We are getting on with the business of bringing our two organisations together and unlocking the value which the combined strength of our operations will provide.’

EZW and Gazeley’s teams are working on an integration strategy for the two businesses.