Mergers: Commission approves acquisition by Volkswagen of KPI Polska, Skoda Auto Polska, VW Bank Polska and VW Leasing Polska
Brussels, 19 December 2011 - The European Commission has cleared under the EU Merger Regulation the proposed acquisition by Volkswagen AG of the exclusive importers and distributors of its passenger car and light commercial vehicle ("LCV") brands in Poland (KPI Polska and Skoda Auto Polska) as well as two other Polish businesses providing financial and insurance services relating to these activities (Volkswagen Bank Polska and Volkswagen Leasing Polska).
The Commission's investigation confirmed that the transaction is a vertical integration by Volkswagen of its importation, wholesale and retail distribution activities in Poland relating to new passenger cars of the Volkswagen, Audi, Porsche, Bentley and Skoda brands and LCVs, their related spare parts and accessories as well as financial and insurance procurement services linked to these activities in Poland. The Commission concluded that the proposed transaction would not lead to any significant change in the structure of the markets in Poland and would therefore not significantly impede effective competition in the European Economic Area (EEA)1 or any substantial part of it.
The transaction was notified to the Commission on 14 November 2011.
Background on companies
Volkswagen AG is a German publicly-traded company active internationally primarily in the manufacture and supply of passenger cars, LCVs, spare parts and accessories.
KPI Polska is the exclusive importer and wholesale distributor of the Volkswagen group brands (except Skoda) in Poland and also operates a limited number of Volkswagen dealerships in Poland. Skoda Auto Polska performs a similar role for Skoda vehicles in Poland.
VW Bank Polska and VW Leasing Polska are active in financing and insurance procurement for passenger cars and LCVs of the Volkswagen group brands supplied to customers in Poland.
Merger control rules and procedures
The Commission has the duty to assess mergers and acquisitions involving companies with a turnover above certain thresholds (see Article 1 of the Merger Regulation) and to prevent concentrations that would significantly impede effective competition in the EEA or any substantial part of it.
The vast majority of mergers do not pose competition problems and are cleared after a routine review. From the moment a transaction is notified, the Commission generally has a total of 25 working days to decide whether to grant approval (Phase I) or to start an in-depth investigation (Phase II).
A non-confidential version of today's decision will be available at:
Amelia Torres (+32 2 295 46 29)
Marisa Gonzalez Iglesias (+32 2 295 19 25)