Press Release: Mergers: Commission approves proposed acquisition of BST by WLR

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the German company BST Safety Textiles Holding GmbH (“BST”) by the American private equity firm WLR Recovery Fund III, L.P. (“WLR”). BST is a supplier of flat fabrics for use in the manufacture of automotive airbag cushions, whilst a company controlled by WLR, Safety Components International Inc. (“SCI”), produces airbag cushions. The Commission concluded that the proposed transaction would not significantly impede competition in the European Economic Area (EEA) or any substantial part of it.