Volkswagen wins EU approval to buy Scania
Germany’s Volkswagen has won the approval from the European Union to buy Swedish truck and bus maker Scania.
“The transaction would not give rise to competition concerns” in the European Union, the European Commission, the EU’s antitrust watchdog, said in a recent statement after examining the operation.
Volkswagen mainly produces passenger cars and light commercial vehicles, including spare parts and accessories, while Scania manufactures trucks with a gross vehicle weight of more than 16 tons for long-haulage, construction haulage and distribution of goods. Although Volkswagen holds a minority shareholding in MAN, a German producer of medium-sized and heavy trucks, buses and engines, the activities of Volkswagen and Scania do not overlap as far as their core business is concerned, the commission said. (people.com.cn)
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