EU Commission clears acquisition of UMAX and ILS by Isuzu and Itochu

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of UMAX and ILS by Isuzu and Itochu, all of Japan.

UMAX is active in the truck auction business, the purchase, sale and online trade of used trucks in Japan. ILS is active in commercial vehicle leasing and maintenance contract services in Japan. Isuzu is active in the manufacture and supply of motor vehicles and engine components.

Itochu is active in the import, export and overseas trading in a wide range of industries. The Commission concluded that the proposed acquisition would raise no competition concerns, given it would have limited impact in the market of commercial automotive leasing and truck auctioning in the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10736.