European Commission clears acquisition of Toyota's Hirose plant by Denso Corporation

Aug 23, 2019   Tier Suppliers

The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of the Hirose Plant by Denso Corporation, both of Japan, by way of purchase of assets.

The Hirose Plant produces semiconductors and electronic components for use in automobiles. It is currently owned by Toyota Motor Corporation, the Japanese automotive company, which uses the entire output of the plant for its own production. Denso is a manufacturer and supplier of advanced automotive parts and components for automobile manufacturers, non-automotive consumer products and industrial products.

The Commission concluded that the proposed acquisition would raise no competition concerns given the limited overlaps between the companies' activities, the presence of other competitors in these markets and the lack of ability and incentive for the combined entity to shut competitors out of the market. The transaction was examined under the normal merger review procedure.

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