European Commission - Daily News
Brussels, 9 March 2016
The European Commission has approved under the EU Merger Regulation the acquisition of the Rhiag Group of Italy, by LKQ Corporation, of the US. Both Rhiag and LKQ are active in the manufacture and distribution of automotive spare parts for the independent aftermarket segment.
The Commission concluded that the proposed acquisition would not raise competition concerns, because of the moderate combined market shares of the parties in the manufacturing of automotive spare parts. With regard to the distribution of spare parts, the parties' activities are largely complementary as they are not active in the same Member States. Also, a number of other players are active in both manufacturing and distribution. The transaction was examined under the simplified merger review procedure.
(For more information: Ricardo Cardoso – Tel.: +32 229 80100; Carolina Luna Gordo – Tel.: +32 229 68386)
Source: Europa.eu (Copyright European Commission)