Brussels, 3 August 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of eight companies, together referred to as Torpedo, of Germany by Hedin Mobility Group AB (‘Hedin’) of Sweden.
Torpedo is a retailer of new and used motor vehicles as well as of vehicle spare parts, mainly active in Germany. Hedin is a wholesaler and retailer of new and used motor vehicles and spare parts in the European Economic Area. In particular, their activities overlap in the retail distribution of motor vehicles and spare parts in Germany.
The Commission concluded that the proposed acquisition would raise no competition concerns, given the companies’ limited combined market position resulting from the proposed transaction. The transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11173.
Source – EU Commission