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, 14.3.2019  
C(2019 ) 2161 final  
 
 
To the notifying party  
Subject : Case M .9200  – KKR  / MAGNETI MARELLI  
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 20 February  2019 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which the undertaking 
CK Holdings Co., Ltd.  ("CK Holdings ", Japan) , ultimately controlled by KKR & Co. Inc. 
("KKR", United States)  acquire s within the meaning of Article 3(1)(b) of the Merger 
Regulation sole control over the whole of the undertaking Magneti Marelli S.p.A. 
("Magnet i Marelli", Italy)  by way of purchase of shares .3 
2. The business activities of the undertakings concerned are:  
 KKR: a global investment firm, which offers a broad range of asset funds and other 
investment products to investors and provides capital markets solutions for the firm, 
its portfolio companies and other clients. KKR controls CK Holdings , which is the 
holdi ng company of Calsonic Kansei Corporation , a Japan -based global supplier of 
auto parts, such as cockpit modules, interior products, climate control systems, engine 
cooling products, automotive compressors, exhaust systems and electronic products.  
 Magneti M arelli : a supplier of components and systems for the automotive sector, 
principally automotive lighting products, powertrains products, electronic systems, 
suspension systems and shock absorbers, exhaust systems, aftermarket parts and 
services and motorspo rt products . 
                                                 
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 introduc ed certain changes, such as the replacement of 
'Community ' 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 074, 27.2.2019, p. 12. 
PUBLIC VERSION  
2 3. After examination of the notification, the European Commission has concluded that the 
notified operation falls within the scope of the Merger  Regulation  and of paragraph 6 of 
the Commission Notice on a simplified procedure for treatment of cer tain concentrations 
under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified 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 .