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MAGNA / IXETIC
M.6748
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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.
COMP/M.6748 – Magna/ ixetic
SECTION 1.2
Description of the concentration
Magna International Inc. Aurora, Ontario, Canada ("Magna") intends to acquire all shares in and thus sole control over ixetic Verwaltungs GmbH ("ixetic").
Magna is a diversified global automotive supplier and designs, develops, manufactures and supplies automotive systems, assemblies, modules and components. Its products and services are sold primarily to original equipment manufacturers ("OEMs") of cars and light trucks in North and South America, Europe, Asia and Africa.
ixetic is an automotive supplier of design, engineering and manufacturing solutions for hydraulic and vacuum pumps supplying OEMs mostly in Europe.
The intended acquisition relates primarily to the development and manufacturing of pumps for the automotive industry.