Press Release: Mergers: Commission approves acquisition of ING Car Lease by BMW

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of ING Car Lease, the car leasing business of the Dutch global financial institution ING, by the German car manufacturer Bayerische Motoren Werke AG ("BMW").

The Commission found that the transaction would result in only limited overlaps between ING Car Lease and BMW's own existing car leasing activities. In all the markets concerned, the merged entity will continue to face several strong, effective competitors with significant market shares.

The Commission particularly examined whether current rivals of ING in the car leasing business could be denied access to BMW cars. But it concluded that the merged entity would have neither the ability nor the incentive to shut out its competitors given its position on the markets concerned.

The Commission, therefore, concluded that the transaction, notified for regulatory clearance on 22 August 2011, would not significantly impede effective competition in the European Economic Area (EEA)1 or any substantial part of it