Faurecia has been cleared by the European Commission (EC) to acquire the Spanish subsidiary of components manufacturer Plastal Holding.
The EC ruled under its merger regulation that Faurecia’s transaction would not significantly impede competition in the European Economic Area or any substantial part of it.
Both parties’ activities overlap in the markets for the manufacture and supply of bumpers, front end carriers and instrument panels for light vehicles.
However, the commission’s investigation maintained the proposed merger would not give rise to any major competition concerns as the companies are not each other’s closest competitors and will continue to face credible competitors in all of these markets.
Given that Faurecia is controlled by PSA Peugeot Citroën SA, the commission also examined the vertical link between a supplier of car components and a manufacturer of passenger cars.
The commission had already approved the acquisition of Plastal Germany by Faurecia on 24 March this year.
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By GlobalData“As Faurecia intends to acquire Plastal Spain from the same seller, less than two years from the first transaction, the two operations are treated under the EU merger regulation as one concentration arising on the date of the last transaction,” an EC statement said.
Plastal is a key supplier to European OEMs such as Opel.
