Brussels, 17 February 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Digital Mobility Leasing GmbH (‘DML’) of Germany by Pon Holdings B.V. (‘PON’) of the Netherlands, Volkswagen Financial Services Aktiengesellschaft (‘VWFS’) and Glinicke Finanz Holding GmbH & Co. KG (‘Glinicke’), both of Germany.
DML‘s activities relate to leasing solutions, primarily in the e-bike segment, for the self-employed, tradespeople and medium-sized companies. PON is active in the long-term investment in a range of segments relating to mobility, such as passenger and commercial vehicles and bicycles. VWFS‘ activities cover the development, manufacture, marketing and sale of passenger cars and other vehicles. Glinicke is a multi-brand motor vehicle dealer and provider of associated ancillary services such as car rental, recovery services and fleet rental.
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.11009.
Source – EU Commission