European Commission authorities have approved, through the EU Merger Regulation, Denso‘s acquisition of sole control of Toyota’s Hirose Plant by way of assets purchase.
The Hirose Plant produces semiconductors and electronic components for use in cars. It is currently owned by Toyota, which uses the entire output of the plant for its own production.
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The Commission concluded the proposed acquisition would raise no competition concerns given the limited overlaps between the companies’ activities, the presence of other competitors and the lack of ability and incentive for the combined entity to shut competitors out of the market.
The transaction was examined using the normal merger review procedure.
Denso recently announced Nippon Wiper Blade and Asahi Manufacturing, both of which are its subsidiaries, will merge on 1 October 2019 and start again as Denso Wiper Systems to build an integrated structure from design and production.
The company will also increase efforts for the Denso Group to create added value in advanced fields.
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By GlobalData
