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Electronics Production | November 23, 2004

EU clears way Magneti, Fiat deal

The European Commission has cleared the proposed acquisition of Magneti Marelli Sistemi Elettronici, a supplier of electronic components, by Fiat SpA.
The operation is purely vertical and does not give rise to any foreclosure effects. Magneti Marelli Sistemi Elettronici (MMSE) is an Italian company active world-wide in the manufacture of automotive electronic components whereas the FIAT Group is mainly active in the manufacture of cars, commercial vehicles and machines for agriculture and construction.

The operation, which was notified for clearance under the Merger Regulation on 11 October, does not present any horizontal overlaps since the companies are active in different product markets.

The examination also showed that MMSE is already FIAT’s main supplier of electronic components and that the acquisition did not give rise to any particular foreclosure concerns, given that the markets for electronic components remain competitive and their customers have a strong bargaining power.

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