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.

COMP/M.6799 - MITSUI/ PAG/ PAG ITALY

SECTION 1.2

Description of the concentration

The Proposed Transaction involves a change in control of PAG Italy S.r.l (the Target Company) from sole control by Penske Automotive Group Inc. (PAG) to joint control by PAG and Mitsui.

PAG engages in automobile dealership business in North America, the United Kingdom and Germany, including sale, maintenance and repair of motor vehicles and other ancillary products such as finance and insurance products. PAG is listed on the New York Stock Exchange.

Mitsui is a major Japanese trading house engaged in a number of worldwide commodity and other businesses, including the sale, distribution, purchase, marketing and supply of products in business areas such as: iron and steel; non-ferrous metals; machinery; electronics; chemicals; energy-related commodities; and foods and retail, lifestyle and consumer service, and the sale of motor vehicles and motorcycles, and motor vehicle and motorcycle parts and accessories globally. Mitsui is listed on the Tokyo Stock Exchange.

The Target Company is based in Bologna, Italy, and currently owns and operates authorised BMW dealerships in Italy, through Vanti Group S.r.l. and AutoVanti Monza S.r.l.