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TASARU / BENTELER / HOLON
M.11562
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 4 of Short 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 4
Description of the concentration
The notification concerns the following undertakings:
a) Benteler International AG (“Benteler”, Austria), jointly controlled by CAB II GmbH; CAB Holding GmbH. and Dr. Ing. E.h. Helmut Benteler GmbH.
b) National Automotive and Mobility Investment Company (TASARU Mobility Investment ®) (“TASARU”, Kingdom of Saudi Arabia), controlled by Public Investment Fund (“PIF”, Kingdom of Saudi Arabia).
c) HOLON GmbH (“HOLON”, Germany), which is currently a wholly owned subsidiary of Benteler.
TASARU intends to (indirectly) acquire shares in HOLON, and hereby, Benteler (though a subsidiary) and TASARU indirectly acquire, within the meaning of Article 3(1)(b) and Article 3(4) of the Merger Regulation, joint control over HOLON.
The concentration is accomplished by way of purchase of shares.
The business activities of the undertakings concerned are:
a) Benteler is a global company engaged in the development, production and distribution of products, systems and services for the automotive, energy and mechanical engineering sectors.
b) TASARU is an investment entity in the automotive and mobility sector, which in turn is wholly-owned by PIF, Kingdom of Saudi Arabia. Established in Riyadh, Saudi Arabia, in 1971. PIF is the Saudi Arabian sovereign wealth fund. It has direct and indirect investments in a number of sectors across Saudi Arabia and globally, including food and agriculture, energy, the financial sector, manufacturing, real estate, logistics and digital sectors.
c) HOLON is developing a fully electric, autonomous driving vehicle.
Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË - Tel. +32 22991111