Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels,  22.01.2019  
C(2019 ) 630 final  
 
To the notifying parties  
 
Subject : Case M.9180  – VOLKSWAGEN / DAIMLER / HEYCAR  
Commission decision pursuant  to Article 6(1)(b) of Council Regulation (EC) 
No 139/20041 and Article 57 of the Agreement on the European Economic Area2  
Dear Sir or Madam,  
1. On 19 December 2018 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which the undertaking 
Leonie FS DVB GmbH ("DFS", Germany) , ultimately controlled by Daimler AG 
("Daimler")  acquire s within the meaning of Article 3(1)(b) and Article 3(4) of the Merger 
Regulation joint control over the whole of the undertaking Mobility Trader Holding GmbH 
("MTH ", Germany)  together with the undertaking Volkswagen Financial Services AG 
("VWFS", Germany),  ultimately controlled by Volkswagen AG ("Volkswagen") by way of 
purchase of assets .3 MTH is currently exclusively controlled by Volkswagen  through 
VWFS.  
2. The busin ess activities of the undertakings concerned are:  
 Volkswagen is globally active in the manufacture and sale of motor vehicles, 
including related spare parts and accessories, diesel engines and motorcycles. 
Volkswagen also provides financial services, including financing, leasing, insurance, 
fleet management services and mobility solutions.  
 Daimler  is globally active in the manufacture and sale of motor vehicles, mainly 
passenger cars, trucks, vans and buses. Its product portfolio also includes financin g 
and leasing packages for dealers and customers, as well as financial services such as 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the 'Merger Regulation '). With effect from 1 December 2009,  the Treaty on the 
Functioning of the European Union ( 'TFEU ') has introduced certain changes, such as the replacement of 
'Communi ty' by 'Union ' and 'common market ' by 'internal market '. The terminology of the TFEU will be used 
throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the 'EEA Agreement '). 
3  Publication in the Official Journal of the European Union No C 2, 4.1.2019 , p. 3. 
PUBLIC VERSION  
2 insurance brokerage, investment products, credit cards, and full fleet management and 
leasing services.  
 MTH provides dealers and consumers in Germany with an online pla tform called 
HeyCar for the sale and purchase of high quality used cars.  
HeyCar  is also active as an intermediary for automotive financing opportunities.  
3. After examination of the notification, the European Commission has concluded that the 
notified operati on falls within the scope of the Merger  Regulation  and of paragraph 5(a) of 
the Commission Notice on a simplified procedure for treatment of certain concentrations 
under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simpl ified procedure, the European Commission 
has decided not to oppose the notified operation and to declare it compatible with the 
internal market and with the EEA Agreement. This decision is adopted in application of 
Article 6(1)(b) of the Merger  Regulation  and Article 57 of the EEA Agreement . 
For the Commission  
(Signed ) 
Johannes LAITENBERGER  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .