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EUROPEAN COMMISSION |
Brussels, 18.7.2018
C(2018) 4842 final
To the Notifying Party
Subject:Case M.8938 – LG ELECTRONICS / ZKW HOLDING / MOMMERT GEWERBEIMMOBILIEN
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 13 June 2018, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertaking LG Electronics, Inc. ("LGE") (South Korea) acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control over the whole of the undertakings ZKW Holding GmbH ("ZKW Holding") (Austria) and Mommert Gewerbeimmobilien Verwaltungs GmbH ("MGIV") (Austria) (altogether "ZKW") by way of purchase of shares. 3
2.The business activities of the undertakings concerned are:
-LGE is a producer and supplier of electronics, mobile communications devices and home appliances on a global level. LGE is a recent entrant in the market for automotive lighting systems, with limited sales in Asia and a focus on rear lighting.
-ZKW is an Austrian manufacturer of automotive lighting systems with exports worldwide. ZKW develops and produces lighting systems for the full range of automotive vehicles. ZKW mainly produces front lighting systems for Original Equipment Manufacturers in the European Union. MGIV is a mere intermediate holding company, which is not directly engaged in any economic activity. After closing, MGIV will indirectly hold ZKW Holding’s real estate assets in Wieselburg.
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)
Johannes LAITENBERGER
Director-General