Brussels,16.2.2018

C(2018) 1093 final

To the Notifying Parties

Subject:Case M.8753 - HASCO / MAGNA / JV
Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 1 and Article 57 of the Agreement on the European Economic Area 2  

Dear Sir or Madam,

1.On 24 January 2018, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which Huayu Automotive Systems Co., Ltd. ("HASCO", China) controlled by Shanghai Automotive Industry Corporation Group (China), and Magna International Inc. ("Magna", Canada)  acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control over a newly created company constituting a joint venture HASCO Magna Electric Drive System Co., Ltd, ("E-Drive Ltd", China) by way of purchase of shares. 3

2.The business activities of the undertakings concerned are:

-HASCO is active in the production and sale of automotive components for a variety of car manufacturers,

-Magna is active globally in the manufacture and supply of automotive components, including e-drive power train systems,

E-Drive Ltd will assemble e-motors, gearboxes, inverters and other related parts into an e-drive powertrain system and sell it to original equipment manufacturers (OEMs).

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(a) 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

(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 37, 1.2.2018, p. 28.

(4)

     OJ C 366, 14.12.2013, p. 5.