Mergers: EU Commission clears acquisition of Kongsberg Automotive’s interior comfort systems business by Lear

The European Commission has approved, under the EU Merger Regulation, the acquisition of the interior comfort systems business of Kongsberg Automotive (‘Kongsberg’) of Norway, by Lear Corporation (‘Lear’) of the US.

Kongsberg’s interior comfort systems business manufactures and supplies, among other things, seat heating, seat ventilation, lumbar support and massage equipment, and system components for passenger cars.

Lear supplies automotive seating, wire harnesses and electronics to major automakers.

The Commission concluded that the proposed acquisition would raise no competition concerns given the companies’ moderate combined market positions resulting from the proposed transaction and the presence of a number of strong players providing car seat components and just-in-time assembly of entire car seats. The transaction was examined under the normal merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10512.

www.ec.europa.eu