Mergers: Commission clears joint venture between Faurecia and Magneti Marelli in automotive supply sector
The European Commission has approved under the EU Merger Regulation the creation of a joint venture by Faurecia, S.A. of France and Magneti Marelli S.p.A of Italy. Faurecia manufactures and supplies automotive equipment, including seating, interior systems, such as insturment panels, acoustic modules, decorative parts in various materials and instrument panel beams, automotive exteriors, such as painted exterior body parts, front end modules and composite structural parts, and emissions control technologies.
Magneti Marelli manufactures and supplies high-technology components and systems for the automotive sector, including lighting and powertrain products, electronic and suspension systems and shock absorbers. The joint venture will be active in the EEA in the development, manufacture and supply of certain advanced human-machine interface (“HMI”) vehicle interior products, such as center stacks and overhead consoles, mechanized HMI systems and nomadic devices hardware system integration. The Commission concluded that the proposed concentration would not raise competition concerns, given that there are limited overlaps between the parties’ activities.
The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.7209 .
Source: EU Commission
In: Connectivity & Automation