On 23 January 2020 the Commission has approved, under the EU Merger Regulation, the proposed acquisition of Wabco Holdings Inc. (“Wabco”) by ZF Friedrichshafen AG (“ZF”), notified on 9 December 2019.

ZF, based in Germany, and Wabco, based in Switzerland, are both manufacturers of various commercial vehicle components, in particular for medium and heavy ones (“MHCV”). Specifically, ZF is a multinational company that develops, manufactures and distributes products and systems for passenger cars, commercial vehicles and industrial technology, while Wabco supplies braking control systems as well as technologies and services that improve safety, efficiency and connectivity of commercial vehicles.

Since the companies’ portfolios are largely complementary in the relevant market, the Commission conducted an investigation, as a result of which it stated that the transaction, as notified, is unlikely to hinder effective competition for products like transmission systems, clutches for air compressor, control levelling valves for cabin air suspension systems and automated driver assistance solutions (“ADAS”). Therefore, the Commission approved the transaction unconditionally.

Marco Stillo