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LEAR CORPORATION / INTERIOR COMFORT SYSTEMS BUSINESS OF KONGSBERG AUTOMOTIVE GROUP
M.10512
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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
The Proposed Transaction concerns the acquisition of sole control within the meaning of Article 3(1)(b) Merger Regulation over the interior comfort systems business ("Target Business") from various subsidiaries of Kongsberg Automotive ASA ("Kongsberg Automotive Group") by Lear Corporation ("Lear").
Lear is a large US-based supplier of automotive seating, wire harnesses and electronics that serves major automakers. Lear's activity in the seating segment includes the design, development, engineering, just-in-time assembly, and delivery of complete seat systems to original equipment manufacturers, and the design, development, engineering and manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests.
The Target Business consists of Norway-based Kongsberg Automotive Group's interior comfort systems business. The interior comfort systems business relates to seat heating, seat ventilation, lumbar support and massage equipment, panel heating, ancillary electronic units, and system components essentially for light vehicles.
The principal rationale for the Proposed Transaction is that Lear seeks to expand product offerings into specialized comfort seating solutions that improve vehicle performance and packaging - important benefits as more customers demand these features across various vehicle segments.
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.