EUROPEAN COMMISSION

DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 21/05/2021

In electronic form on the EUR-Lex website under document number 32021M10196

EUROPEAN COMMISSION

Brussels, 21.5.2021 C(2021) 3804 final

PUBLIC VERSION

Magna Metalforming GmbH Technologiestraße 8 1120 Vienna Austria

LG Electronics Inc. LG Twin Towers, 128 Yeoui-daero, Yeongdeungpo-gu 07336 Seoul Korea

Subject: Case M.10196 — Magna/LGE/JV Commission decision pursuant to Article 6(1)(b) of Council Regulation

1(EC) No 139/2004 and Article 57 of the Agreement on the European Economic Area

Dear Sir or Madam,

2.1. On 26 April 2021, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings Magna Metalforming GmbH (“Magna Metalforming”, Austria), a wholly-owned indirect subsidiary of Magna International Inc. (“Magna”, Canada) and LG Electronics Inc. (“LGE”, South Korea) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the Joint Venture Company (“JV”, South Korea) by way of purchase of shares.

2. The business activities of the undertakings concerned are:

- for Magna: a global automotive supplier which designs, engineers and manufactures components, assemblies, systems, subsystems and modules for original equipment manufacturers of passenger cars and light commercial vehicles in North America, South America, Europe, Asia and Africa,

1 OJ 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.

2 OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

3 Publication in the Official Journal of the European Union No C 161, 3.05.2021, p. 5.

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 LGE: a Korean-based integrated electronic goods manufacturer with global operations and distribution networks throughout more than 150 countries,

- for the JV: the manufacturing and supply of certain component products, e-Drive systems and inverter systems, each for electric and hybrid vehicles components and systems.

3.3. 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.

4.4. 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 and Article 57 of the EEA Agreement.

For the Commission

(Signed) Olivier GUERSENT Director-General

4 OJ C 366, 14.12.2013, p. 5.

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