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HASCO / MAGNA / JV
M.8753
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
SECTION 1.2
Description of the concentration
HASCO is a publicly listed company mainly active in the Chinese market in
manufacture and supply of automotive components to OEMs of commercial and
passenger vehicles.
Likewise, Magna is a publicly listed company that is active globally in the
manufacture and supply of a wide range of automotive components to OEMs of
vehicles. Apart from China, Magna already manufactures and sells e-drive
powertrain systems in other markets.
HASCO and Magna intend to form a joint venture, within the meaning of Article
3(4) of the EC Merger regulation, to establish a market for e-drive powertrain
systems in China by combining their resources and technical advantages. The
aim of the Transaction is to assemble e-motors, gearboxes, inverters and other
related parts into an e-drive powertrain system and then sell the e-drive
powertrain system to OEMs. Comparing to the traditional way in which OEMs
purchase e-motors, gearboxes, inverters and other related parts, the assembled
e-drive powertrain system is smaller, lighter and cheaper. Therefore, HASCO and
Magna consider it to be very competitive in the relevant market.
Under paragraph 5(a) of the European Commission Notice on a simplified
procedure for treatment of certain concentrations under Council Regulation
(EC) 139/2004, the concentration is eligible for a simplified procedure.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.