Mergers: Commission clears acquisition of joint control overElectra Industries by Bosch Thermotechnik and Electra Consumer Products
Daily News 12 / 08 / 2020
Source: European Commission Spokesperson's Service
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over the whole of Electra Industries Ltd. of Israel by Bosch Thermotechnik GmbH ("Bosch TT”) of Germany and Electra Consumer Products Ltd (“ECP”) of Israel. Electra Industries develops, produces and supplies to original equipment manufacturers (“OEM”) customers residential air conditioners and accessories, central AC water terminals, air-to-water heat pumps and components. Bosch TT manufactures energy-efficient heating products and hot water solutions. ECP is active in different sectors including the supply of electrical consumer goods. The Commission concluded that the proposed acquisition would raise no competition concerns given the limited overlaps between the activities of the companies in the European Economic Area. The operation was examined under the simplified merger review procedure. More information will be available on the Commission's competition website, in the public case register under the case number M.9858.