The European Commission has cleared two deals — one involving defence manufacturer KNDS and another involving aerospace group Mecaer Aviation — after finding neither would raise competition concerns.
KNDS, based in the Netherlands, will come under joint control of Germany’s state-owned development bank Kreditanstalt für Wiederaufbau (acting on behalf of the German Federal Ministry of Economic Affairs and Energy and the German Federal Ministry of Defence) and France’s GIAT Industries, which is ultimately controlled by the French state, the Commission informed on Thursday.
The transaction relates mainly to the development and manufacturing of defence products.
The Commission said the companies are not active in the same markets and that, although KNDS supplies the German Federal Ministry of Defence, this does not create a relevant vertical link that would raise competition concerns. The merger was reviewed under the Commission’s simplified procedure.
Mecaer Aviation deal also waved through
In a separate decision, the Commission approved the acquisition of joint control of Italy’s Mecaer Aviation Group by Fondo Italiano d'Investimento SGR and France’s PAI Partners.
The transaction relates primarily to the manufacture of aircraft, spacecraft and related machinery.
The Commission stated it found no competition issues because the companies are not active in the same or vertically related markets, and that the case was also assessed using its simplified merger review procedure.
