U.S. car parts maker Delphi Automotive Plc won EU regulatory clearance on Friday to buy FCI Group‘s motorised vehicles unit for about $972 million from private equity firm Bain Capital, Reuters reported Friday.
(Reuters) – U.S. car parts maker Delphi Automotive Plc won EU regulatory clearance on Friday to buy FCI Group’s motorised vehicles unit (FCI MVL) for about $972 million from private equity firm Bain Capital.
The European Commission said its investigation found no competition concerns because the purchase would not change the structure of the market.
“The Commission’s investigation found that they have a moderate combined market share and a number of credible competitors remain active in this market,” the EU executive said in a statement.
The acquisition of FCI MVL, which makes connectors that link different parts of an airbag, will add Asian car makers Nissan Motor Corp and Hyundai Motor Co to Delphi’s customer base.
Its other clients include Ford Motor, General Motors , Volkswagen Group and Toyota Motor Corp.