EU Commission clears acquisition of FFT by Fosun International

The European Commission has approved, under the EU Merger Regulation, the acquisition of FFT GmbH & Co. KGaA, of Germany and FFT Gesellschaft mbH of Austria (together, “FFT”) by Fosun International Limited of China.

FFT supplies automated and flexible production systems for the automotive industry as well as for non-automotive sectors. Fosun International is an investment group focused on several sectors such as pharmaceutical, medical services, leisure, fashion, insurance and finance. The Commission concluded that the proposed acquisition would raise no competition concerns, given that there are no horizontal overlaps or vertical links between the activities of the companies. The transaction was examined under the simplified merger review procedure.