The European Commission has cleared three takeovers under the EU Merger Regulation, approving deals involving automotive components, non-food consumables distribution and electric vehicle battery testing.
Motherson Global Investments B.V., based in the Netherlands, has been approved to acquire sole control of Germany’s Nexans autoelectric GmbH, in a deal focused on supplying components for the automotive industry in the European Economic Area (EEA), the Commission informed on Wednesday.
It found the merger would not raise competition concerns because the companies would have a limited combined market position.
US firm Bain Capital Investors, LLC has also been cleared to take sole control of Sweden’s Aktiebolaget Tingstad Papper — known as the Tingstad Group — which mainly distributes non-food consumables, according to the Commission.
It said there were no competition issues because the companies are not active in the same markets or in vertically related ones.
Battery testing deal also approved
In a third decision, the Commission approved the acquisition of joint control of Aviloo GmbH, a company focused on electric vehicle battery tests, by Austria’s IAG Invest AG & Co KG and Germany’s Armira Beteiligungen GmbH & Co. KG.
The Commission again concluded the transaction would not raise competition concerns, adding that the parties do not operate in the same or vertically related markets.
All three transactions were assessed under the Commission’s simplified merger review procedure.
