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EU clears Lear's takeover of Grupo Antolin's car seat business
April 12, 2017 / 11:00 AM / 8 months ago

EU clears Lear's takeover of Grupo Antolin's car seat business

BRUSSELS, April 12 (Reuters) - European Union regulators on Wednesday cleared U.S. car supplier Lear’s takeover of the seats and metals business of Spain’s Grupo Antolín-Irausa, saying it would still face sufficient competition.

“The Commission concluded that the proposed acquisition would not raise competition concerns given the parties’ moderate combined market positions,” the European Commission, which acts as the bloc’s competition supervisor, said in a statement.

The deal includes 12 factories and two research and development centres in Europe and northern Africa. (Reporting by Robert-Jan Bartunek; Editing by Alastair Macdonald)

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