The European Commission has approved, under the EU Merger Regulation, the acquisition of (i) sole control of one business segment of LEONI AG (‘Leoni’) of Germany by Luxshare Limited (‘Luxshare’) of China; and (ii) of joint control of another business segment of Leoni by Luxshare and Mr Stefan Pierer of Austria. Currently, LEONI is ultimately solely controlled by Mr Stefan Pierer.
The transaction relates primarily to the manufacturing of wiring and electronic equipment for motor vehicles.
The Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited combined market position resulting from the proposed transaction. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11783.
