CELEX: 32019M9200
Language: en
Date: 2019-03-14 00:00:00
Title: Commission Decision of 14/03/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9200 - CK Holdings Co., Ltd. / Magneti Marelli S.p.A.) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 14.3.2019
                                                                C(2019) 2161 final
                                                                       PUBLIC VERSION
                                                                To the notifying party
Subject:         Case M.9200 – KKR / MAGNETI MARELLI
                 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 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) acquires 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.
        ("Magneti 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
              holding 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 Marelli: 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 motorsport 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 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 074, 27.2.2019, p. 12.
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--- 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 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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