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. Magna International Inc., Aurora, Canada (“MAGNA”), via its subsidiary MAGNA PT s.r.o., Kechnec, Slovakia (“GO s.r.o.”) intends to acquire from GETRAG FORD Transmissions Slovakia s.r.o., Kechnec, Slovakia (“GFT s.r.o.”) the majority of their assets, in particular real estate (to be effected shortly after clearance) and, over the next two years, certain movable assets, as well as to take over all employment contracts under so-called TUPE rules (Transfer of Undertakings Protection of Employment rules). Following the completion of the transaction in two years, MAGNA, via its indirectly 100%-owned subsidiary GO s.r.o., will own KECHNEC alone and thus will exercise sole control over KECHNEC.

2. Magna is a global automotive supplier with manufacturing operations and product development, engineering and sales centers in 29 countries. Its product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as complete vehicle engineering and contract manufacturing. KECHNEC is a contract manufacturer of transmission systems for passenger cars and LCVs. Its customers are OEMs primarily located in Europe as well as in Asia and North America. The business associated with the intended acquisition relates exclusively to the manufacture of automatic transmissions or DCTs, respectively.