Press Release: Mergers: Commission clears acquisition of automotive components manufacturer TRW by rival ZF, subject to conditions

On 12 March 2015 the European Commission approved the acquisition of the global automotive component manufacturer TRW of the US by its rival ZF Friedrichshafen of Germany under the EU Merger Regulation.

The decision is conditional upon the divestment of TRW’s businesses in the design, manufacturing and sale of chassis components. The Commission had concerns that the deal as notified could have led to price increases for chassis components because the few remaining players in this market would have been unable to sufficiently constrain the merged entity.

The Commission therefore concluded that the proposed transaction, as modified by the commitments, would not raise competition concerns. This decision is conditional upon full compliance with the commitments.