European Commission (EC) authorities have approved, through the EU Merger Regulation, the acquisition of joint control of a newly created joint venture in India by Toyota Tsusho India, its parent Toyota Tsusho of Japan (TTC) and Maruti Suzuki India of India.
The joint venture will supply, dismantle and process end-of-life vehicles and market and sell scrap as well as other products generated from such activities in India.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
TTIPL is active in the manufacturing and trading of auto parts and components, steel shearing and processing, import and export of automobile components and logistics management services.
TTC is active in metals, parts and logistics, automotive, machinery, energy and projects, chemicals, electronics, food, and consumer services.
MSIL is a subsidiary of car, motorcycle and outboard motor manufacturer Suzuki and manufactures, purchases and sells vehicles, components and spare parts.
The Commission concluded the proposed transaction would raise no competition concerns because the joint venture will have no activities in the European Economic Area.
