ZF has got the green light from EU competition authorities for its proposed takeover of TRW.
The decision is conditional upon the divestment of TRW’s businesses in the design, manufacturing and sale of chassis components. The Commission had concerns that the deal as notified could have led to price increases for chassis components because the few remaining players in this market would have been unable to sufficiently constrain the merged entity. The commitments offered by ZF address these concerns, the Commission said.
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“The divestments would allow the entry of an additional manufacturer and supplier of these products,” the EU competition authority said.
ZF is an important player in driveline and chassis technologies, whereas TRW is a significant supplier of active and passive safety technologies, including advanced driver assistance systems such as camera-based cruise control.
The $13.5bn deal will bring the two technology groups together under the same company roof to help build presence in the growing DAS/self-driving vehicles sector.
See also: ANALYSIS: ZF/TRW: ‘Motion and Mobility’ meets ‘Cognitive Safety’
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