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EU regulators to investigate Knorr-Bremse, Haldex deal

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EU regulators to investigate Knorr-Bremse, Haldex deal

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BRUSSELS (Reuters) – EU antitrust authorities opened on Monday an in-depth investigation into German car parts maker Knorr-Bremse’s [STELLG.UL] bid for Swedish peer Haldex, saying the deal would remove a major competitor from market already marked by few players.
The European Commission listed a number of areas where competition would be reduced following the deal, among them in electronic braking systems, air disc brakes, anti-lock braking systems and air treatment systems.
The EU competition enforcer said Knorr-Bremse’s offer of concessions had not addressed the concerns and therefore it had not sought feedback from rivals and users, confirming a Reuters story on July 5.
It will decide by Nov. 30 whether to clear or block the deal.

(Reporting by Foo Yun Chee)

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