Press Release: Commission clears acquisition of New Venture Gear by Magna

The European Commission has approved the acquisition of the US company New Venture Gear, formerly part of Daimler-Chrysler, by the Canadian company Magna, a global manufacturer of automotive parts, 27 September 2004. Although the activities of the parties overlap in the sector of components for all-wheel drive vehicles, the Commission investigation has shown that the proposed transaction will not significantly impede effective competition in the European market.

Magna: Press Release, 1.12.03 http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=MGA&script=410&layout=-6&item_id=473991

Magna: Press Release, 17.5.04 http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=MGA&script=410&layout=-6&item_id=572585

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