The European Commission has approved plans for Volkswagen to acquire certain assets from Karmann, which is currently under insolvency administration. In its ruling, the Commission concluded that the proposed deal would not significantly impede competition in the European Economic Area (EEA).
“As Karmann acts as a supplier to the car industry, the transaction mainly leads to vertical links. Given the presence of other considerable suppliers and the moderate market share of Karmann, the Commission concluded that car manufacturers will continue to have sufficient alternative suppliers after the transaction,” it notes.
Volkswagen plans to acquire Karmann’s car and components development business, contract manufacturing operations, plant engineering ops and equipments/tool production business.
Earlier in November, Finnish contract manufacturer Valmet Automotive completed the acquisition of Karmann's roof business in Germany and Poland.