Mergers: Commission clears the acquisition of joint control over ASCN by Bosch and HASCO

 The European Commission has approved under the EU Merger Regulation the acquisition of joint control over Bosch Automobile Steering (Nanjing) Co. Ltd. ("ASCN") of China by Robert Bosch GmbH ("Bosch") of Germany and Huayu Automotive Systems Company Ltd. ("HASCO") of China. ASCN is a Bosch-subsidiary active in the production of power assisted steering gears, predominantly in China. Bosch is a supplier of technology and services for the automotive industry, as well as for the industrial technology, consumer goods, energy and building technology industries. HASCO is active in the development, production and sale of automotive components for a variety of car manufacturers and is controlled through SAIC Motor Corporation by the State-owned Assets Supervision and Administration Commission of the Shanghai Municipal Government. The Commission concluded that the proposed acquisition would raise no competition concerns given that the companies' activities do not overlap in the EEA. The 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.8651(For more information: Ricardo Cardoso – Tel.: +32 229 80100; Maria Sarantopoulou - Tel.: +32 229 13740)


© Copyright 2010-16 Invest in EU All rights reserved.