Competition weekly news summary
20 June 2014


Mergers

  • Commission approves acquisition of part of Honeywell's friction material business by rival Federal-Mogul, subject to conditions
    16 June 2014
    The Commission has cleared the proposed acquisition of the European part of Honeywell's friction material business by another large US friction material manufacturer, Federal-Mogul Corporation. Both companies produce friction material, in particular brake pads for trucks and passenger cars. In these segments, both companies have a strong presence in the EEA for original equipment and original equipment spare parts (OEM/OES). The clearance is conditional upon the divestment of the OEM/OES business at a German and a French factory producing brake pads for commercial and light vehicles. The Commission had concerns that the transaction, as originally notified, would have significantly reduced competition in these markets in the EEA. The commitments offered by Federal-Mogul address these concerns.
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State aid

  • Commission approves revised restructuring plan for NCG following sale to Banesco Group
    20 June 2014
    The Commission has concluded that the sale of the Spanish bank NCG Banco to Banesco Group and proposed amendments to its restructuring plan were in line with EU state aid rules. The sale will facilitate an orderly resolution of the bank, without resulting in additional state aid to NCG or the buyer. The proposed amendments do not endanger the restoration of NCG's long-term viability nor do they increase the risk of competition distortions in the Single Market.
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Court

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Published by the Competition Directorate General of the European Commission. The content of this publication does not necessarily reflect the official position of the European Commission. Neither the Commission nor any person acting on its behalf is responsible for the use which might be made of the above information.

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