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Case No COMP/M.7214 - PAG/ IBERICAR/ IBERICAR K

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 10/06/2014

In electronic form on the EUR-Lex website under document number 32014M7214

Office for Publications of the European Union L-2985 Luxembourg

EUROPEAN COMMISSION

Brussels, 10.6.2014 C(2014) 3980 final

PUBLIC VERSION

SIMPLIFIED MERGER PROCEDURE

To the notifying parties

Dear Madam(s) and/or Sir(s),

Subject: Case M.7214 – PAG/ IBERICAR/ IBERICAR K Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004

1.On 12 May 2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings Penske Automotive Group Inc ("PAG", USA) and Ibericar, Sociedad Ibérica del Automóvil S.A. ("Ibericar", Spain ) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control over Ibericar Keldenich S.L.("Ibericar K", Spain) and the BMW's car dealership business in Spain ("Car dealership business") by way of purchase of assets.

The business activities of the undertakings concerned are:

-- for PAG: automobile dealership business including sale, maintenance and repair of motor vehicles and other ancillary products such as finance and insurance products in North America, the UK, Germany and Italy;

-- for Ibericar: retail sale of new cars, used cars, aftersales, paint and repair, parts and distribution of financial products in Spain;

1OJ L 24, 29.1.2004, p. 1 ("the Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market" by "internal market". The terminology of the TFEU will be used throughout this decision.

2Publication in the Official Journal of the European Union No C 150, 17.05.2014, p.10.

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.

-- for Ibericar K: car retailing and related activities in Spain;

-- for the Car dealership business: car retailing and ancillary activities in Spain.

3.After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(c) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.

For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation.

For the Commission (Signed) Alexander ITALIANER Director General

3OJ C 366, 14.12.2013, p. 5.

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