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Germany: Regs clear $1.8B car parts merger

 |  September 14, 2014

German competition regulators have given clearance to auto supplier Continental’s plans to acquire a US-based car parts manufacturer after an in-depth investigation of the merger, say reports.

The nation’s Federal Cartel Authority will allow Continental to acquire Veyance Technologies “despite Continental’s high market share and a reduction in the number of suppliers down to three form four,” the watchdog said in a statement. Ultimately, the watchdog said competition would not be significantly harmed by the deal.

The companies first announced their $1.8 billion merger plans in February. The deal was subject to the Authority’s in-depth probe in May, say reports.

Full content: Reuters

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