CELEX: 32021M10196
Language: en
Date: 2021-05-21 00:00:00
Title: Commission Decision of 21/05/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10196 - MAGNA / LGE / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 21.5.2021
                                                                C(2021) 3804 final
                                                                                 PUBLIC VERSION
                                                                Magna Metalforming GmbH
                                                                Technologiestraße 8
                                                                1120 Vienna
                                                                Austria
                                                                LG Electronics Inc.
                                                                LG Twin Towers, 128
                                                                Yeoui-daero, Yeongdeungpo-gu
                                                                07336 Seoul
                                                                Korea
Subject:        Case M.10196 — Magna/LGE/JV
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 26 April 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Magna Metalforming GmbH (“Magna Metalforming”, Austria), a
        wholly-owned indirect subsidiary of Magna International Inc. (“Magna”, Canada) and
        LG Electronics Inc. (“LGE”, South Korea) acquire within the meaning of Article
        3(1)(b) and 3(4) of the Merger Regulation joint control of the Joint Venture Company
        (“JV”, South Korea) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Magna: a global automotive supplier which designs, engineers and
              manufactures components, assemblies, systems, subsystems and modules for
              original equipment manufacturers of passenger cars and light commercial
              vehicles in North America, South America, Europe, Asia and Africa,
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 161, 3.05.2021, p. 5.
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---        for LGE: a Korean-based integrated electronic goods manufacturer with global
        operations and distribution networks throughout more than 150 countries,
       for the JV: the manufacturing and supply of certain component products, e-Drive
        systems and inverter systems, each for electric and hybrid vehicles components
        and systems.
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 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)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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