Volkswagen submits merger control application to EU Commission
Numerous authorities worldwide have already approved increase in MAN stake
Wolfsburg, - The Volkswagen Group yesterday submitted the formal merger control application as part of the mandatory offer for shares in MAN SE to the EU Commission in Brussels. This was announced by Europe’s largest automaker in Wolfsburg on Tuesday. The Volkswagen Group remains confident that the requisite regulatory clearances will be forthcoming in the second half of the year.
Numerous authorities worldwide have already issued the relevant approvals in recent weeks: Competition and regulatory authorities in Germany, USA, Japan, Mexico, Turkey, Israel, Croatia, Albania, Montenegro and Macedonia have already cleared the planned take-over.
Following receipt of all the necessary regulatory clearances and subsequent settlement of the mandatory offer, substantial synergies in the fields of procurement, development and production can be realized through a closer cooperation of MAN, Scania and Volkswagen.
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