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

1.1. The proposed merger relates to the acquisition of all equity interests in Olsa S.p.A., Rivoli, Turin, Italy (“Olsa”) by Magna Closures S.p.A., Livorno, Italy, a whollyowned indirect subsidiary of Magna International Inc., Aurora, Canada (“Magna”, together with Olsa and its subsidiaries referred to as the “Parties”). Following the completion of the transaction, Magna, as the ultimate parent company, will indirectly hold all shares in Olsa and will thus exercise sole control over Olsa and its subsidiaries.

2.2. Magna is a global automotive supplier which designs, develops, manufactures and supplies automotive systems, assemblies, modules and components primarily for original equipment manufacturers (“OEMs”) of passenger cars and light commercial vehicles (“light vehicles”) in North America, South America, Europe, Asia and Africa. The concentration relates to the activities managed by Magna’s Power & Vision segment, more particular to the automotive lighting business which is managed by Magna Closures Inc. The Magna Closures Group is a global supplier to the automotive industry of automotive closures, mirrors, lighting and roof systems through manufacturing divisions and engineering facilities located in North America, EU, Asia and Brazil. Magna’s automotive lighting capabilities in the EU are very limited. Further information on Magna is available at the company’s website under: www.magna.com.

3.3. Olsa is an automotive supplier whose business activities consist of the engineering, designing, testing, manufacturing, marketing and selling automotive lighting products primarily to OEMs of light vehicles in Europe, North America, South America and Asia. Olsa’s product portfolio primarily consists of: rear lamps, center high molded stop lamps (“CHMSL”), small exterior lighting and interior lighting. Additional Information on Olsa’s products can be found on the company’s website at www.olsagroup.com.

4.4. The Parties’ business activities in the European Economic Area (“EEA”) are principally complementary since Olsa Group specializes in the area of automotive lighting products, whereas Magna’s EEA-wide business activities in this field are rather limited.

5.5. Magna is aiming to improve its existing core competencies as a supplier of automotive lighting systems by capitalizing on Olsa Group’s proven engineering and assembly capabilities. The concentration will also expand Magna’s manufacturing footprint for automotive lighting systems in Europe, Brazil and China as well as its customer and product presence with strategic OEM customers.