The European Commission has approved, under the EU Merger Regulation, the acquisition of Magneti Marelli S.p.A. of Italy, by KKR & Co., Ltd. ("KKR") of the US. Magneti Marelli is a supplier of components and systems for the automotive sector, exhaust systems, aftermarket parts and services and motorsport products...
KKR is an investment firm, which offers a broad range of asset funds and other investment products. KKR controls Calsonic Kansei Corporation, a Japan-based global supplier of auto parts, such as climate control systems, engine cooling products, automotive compressors, exhaust systems and electronic products. The Commission concluded that the proposed transaction would raise no competition concerns as the parties have a limited position in the markets where their activities overlap. 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.9200.
