CELEX: 32019M9197
Language: en
Date: 2019-02-05 00:00:00
Title: Commission Decision of 05/02/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9197 - Hanon Systems / Rotor) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 05.02.2019
                                                                C(2019) 932 final
                                                                          PUBLIC VERSION
                                                                To the notifying party:
Subject:        Case M.9197 - HANON SYSTEMS / MAGNA INTERNATIONAL (ROTOR
                BUSINESS)
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                             2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 14 January 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the undertaking
        Hanon Systems (“Hanon”) (South Korea), controlled by Hahn & Co. LLC (“Hahn & Co”)
        (South Korea), acquires within the meaning of Article 3(1)(b) of the Merger Regulation
        control of part of the fluid pressure and controls business (Rotor business (“Rotor”)) of
        Magna International Inc. (Canada) by way of purchase of shares and assets.3
2.      The business activities of the undertakings concerned are:
        –      Hanon is mainly engaged in the manufacture and supply of automotive thermal
               management systems worldwide (also known as climate control systems). Hahn &
               Co is a private equity investment firm,
        –      Rotor provides car manufacturers (original equipment manufacturers (“OEMs”))
               with cooling and pump technology to support OEM emission reduction and thermal
               management needs. Magna is a global automotive manufacturer.
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 5 (c) of
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
        '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 024, 21.1.2019, p. 21.
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.
 ---pagebreak---    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 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.
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