Press Release: Mergers: Commission approves acquisition of German automotive supplier ixetic by rival Magna of Canada

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of ixetic Verwaltungs GmbH of Germany by Magna International Inc of Canada, both suppliers to the automotive industry. The Commission's investigation confirmed that the merged entity would continue to face competition from a number of strong competitors and that customers would still have sufficient alternative suppliers in all markets concerned.