CELEX: 32010M5784
Language: en
Date: 2010-09-16 00:00:00
Title: Commission Decision of 16/09/2010 declaring a concentration to be compatible with the common market (Case No COMP/M.5784 - MAGNA / SEMIKRON / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

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32010M5784

Commission Decision of 16/09/2010 declaring a concentration to be compatible with the common market (Case No COMP/M.5784 - MAGNA / SEMIKRON / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)  

         (.PICT.) |EUROPEAN COMMISSION     |
            Brussels , 16.09.2010
             SG-Greffe(2010) D/13925, 13924
             C(2010) 6431
             PUBLIC VERSION
             MERGER PROCEDURE ARTICLE 6(1)(b) DECISION
             SIMPLIFIED PROCEDURE
              To the notifying parties:
             Dear Madam(s) and/or Sir(s),
             Subject: Case No COMP/M.5784 – MAGNA/ SEMIKRON/ JV Notification of 13.08.2010 pursuant to Article 4 of Council Regulation (EC) No 139/2004  [1]  Publication in the Official Journal of the European Union No C 226, 21.08.2010, p.15
            1.  On 13.08.2010, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertaking Magna International Inc ("Magna", Canada) and Semikron Elektronik GmbH & Co. KG ("Semikron", Germany) acquire within the meaning of Article 3(1)(b) of the  Merger Regulation joint control of the undertaking Vepoint GmbH & Co. KG ("Vepoint", Germany) by way of purchase of shares in a newly created company constituting a joint venture.
              The business activities of the undertakings concerned are:
              - Magna is a diversified global automotive supplier. It designs, develops and manufactures automotive systems, assemblies, modules and components, and engineers and assembles complete vehicles. Its products and services are sold primarily to OEMs of cars and light trucks world-wide. 
              - Semikron is a global power electronic producer. It designs, develops, manufactures and sells power modules for energy conversion in power electronics applications such as motor control, power supply, renewable energy, and welding equipment.
              - Vepoint will develop, manufacture and supply inverters, DC/DC converters and battery chargers for the use in hybrid and electric cars.
            2.  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(a) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 [2]  .  
            3.  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.
             For the European Commission, (signed) Alexander ITALIANER Director General
            [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 C 56, 5.3.2005, p. 32.