The European Commission has approved, under the EU Merger Regulation, the acquisition of Hyundai Assan Otomotiv Sanayi Ve Ticaret A.Ş. of Turkey by Hyundai Motor Company of South Korea. Hyundai Assan Otomotiv Sanayi manufactures and exports Hyundai motor vehicles.
Hyundai Motor Company is active in the motor vehicle sector, including the business of manufacture and sale of motor vehicles. The Commission concluded that the proposed acquisition would raise no competition concerns, because Hyundai Motor Company already had joint control of Hyundai Assan Otomotiv Sanayi and the change to sole control would have no significant impact on the existing competition. The transaction was examined under the simplified merger review procedure.