The European Commission has cleared Volkswagen’s (VW) proposed
takeover of Swedish truck and bus manufacturer Scania.
The commission said the two companies’ core business activities
did not overlap and the merger would not significantly impede
competition in Europe.
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VW, one of the largest car manufacturers in the world builds and
distributes cars and light commercial vehicles under brands such as
Audi, Seat, Bentley and Skoda, whereas Scania produces heavy trucks
for long-haulage and goods distribution. Scania also manufactures
buses and industrial and marine diesel engines.
The Commission added that VW’s minority stake in bus maker MAN
would not have an adverse effect on competition.
VW’s production of trucks and buses are limited to Central and
South America while Scania was focussed on the European
market. There was only a “marginal” overlap in the production
of diesel engines for industrial and marine use, the commission
noted.
VW took sole control of Scania in March this year, pending
approval, when it increased its holding in the Swedish company to
68.6 per cent of the voting rights and 37.73 per cent of the
capital rights.
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