The European Commission has approved the joint venture proposed by Bridgestone and German tyre firm Pneuhage Management GmbH & Co. The approval granted under the EU Merger Regulation sees Pneuhage Management GmbH & Co. KG and Bridgestone Deutschland GmbH take joint control over Pneuhage Partners Group GmbH & Co. KG. Bridgestone Deutschland, a subsidiary of Bridgestone Europe NV/SA, will acquire 25 per cent of the shares in Pneuhage Partners; Pneuhage Management already holds a 75 per cent share.
The Commission concluded that the proposed acquisition would “raise no competition concerns” as “the overlaps between the companies’ activities are limited” and “a number of other players are active in the wholesale and retail distribution of new replacement and retreaded tyres for various vehicle categories.” The transaction was examined under the simplified merger review procedure.
Pneuhage Partners is engaged in the retail distribution of tyres and car-related services, as well as the manufacture and retail sale of retreaded tyres in Germany. Pneuhage Management is a wholesale and retail supplier and distributor of aftermarket tyres and rims for consumer and commercial applications, and is also active in the truck and bus tyre retreading sector in Germany, France and Poland. Bridgestone Deutschland is active in the wholesale and retail trade of new tyres and in the retreading of truck tyres in Germany.
Category: Company News