Officials at the European Commission (EC) have approved the acquisition by Lear of the seats and metal business of Grupo Antolín-Irausa through the EU Merger Regulation.
The business consists of 12 industrial facilities and two R&D centres located in the Czech Republic, France, Morocco, Portugal and Spain, active in the manufacturing of automotive seats and seating components.
The Commission concluded the proposed acquisition would not raise competition concerns given the parties’ moderate combined market positions resulting from the proposed transaction and the presence of a number of strong players.
The transaction was examined under the normal merger review procedure.
Lear is a T1 supplier of complete automotive seating systems and components, as well as electrical distribution systems and electronic components.
With headquarters at Burgos, Spain, Grupo Antolin is the leading supplier of interior systems in the world. The family-owned company’s 28,313 employees generated sales of EUR3.51bn in 2015.
It has 156 factories worldwide.