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Commission clears acquisition of Hanon Systems by Hankook Tire

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The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Hanon Systems Co., Ltd. by Hankook Tire & Technology Co., Ltd. (‘Hankook Tire'), both of South Korea.

The transaction relates primarily to the manufacturing of automotive thermal management system components, such as heating, ventilation and air conditioning modules.

The Commission concluded that the notified transaction would not raise competition concerns, given that the companies are not active in the same or vertically related markets The notified transaction was examined under the simplified merger review procedure.

More information is available on the Commission's competition website, in the public case register under the case number M.11621.

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