On October 1, the European Commission announced that it has decided under Article 6(1)(b) of the EU Merger Regulation to approve the acquisition of sole control of OLSA S.p.A. by Magna Closures S.p.A. (“MAGNA“), both of Italy (M.8995).

MAGNA is an automotive supplier which manufactures and supplies automotive systems, assemblies, modules and components, primarily for passenger cars and light commercial vehicles. OLSA is an automotive supplier which manufactures and supplies lighting products for passenger cars and light commercial vehicles.

The transaction was examined under the simplified merger review procedure and the Commission concluded that the proposed transaction would not raise any competition concerns. This is due to the companies’ limited combined market position and the presence of a number of established competitors in the market.