Brussels, 25 April 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of IG Bauerhin GmbH (‘IGB’) of Germany by Lear of the US.
IGB is a supplier of automotive seat comfort components, including seat thermal heat mats and seat ventilation systems. Lear is a supplier of seat comfort components, including seat thermal heat mats, and a supplier of just-in-time (‘JIT’) assembly of car seats.
The Commission concluded that (i) recent entries and low barriers to entry are likely to prevent Lear from exercising market power following the merger, (ii) Lear is unlikely to be able to engage in a strategy of input foreclosure of seat thermal heat mats and a strategy of customer foreclosure. The Commission thus concluded that the proposed acquisition would raise no competition concerns. The transaction was examined under the normal merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.10738.
Source – EU Commission