Press Release: Mergers: Commission approves creation of joint venture in Belgium between Volkswagen Financial Services and D’Ieteren

The European Commission has cleared under the EU Merger Regulation the creation of a joint venture between Volkswagen Financial Services AG ("VWFS") and the Belgian company s.a. D'Ieteren n.v. for the provision of financial services related to the sale of Volkswagen group vehicles on the Belgian market.

The Commission concluded that the creation of the joint venture, to be known as Volkswagen D’Ieteren Finance SA ("VDFin"), would not raise competition concerns because the proposed transaction will not significantly alter the market structures and the merged entity will face competition from other players.