COMMISSION DECISION of 29/08/2000 declaring a concentration to be compatible with the common market (Case No IV/M.2095 - SEXTANT/DIEHL) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)

What COMMISSION DECISION of 29/08/2000 declaring a concentration to be compatible with the common market (Case No IV/M.2095 - SEXTANT/DIEHL) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) requires

On 27 July 2000, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/89 ('the Merger Regulation') by which the undertakings Thomson-CSF Sextant S.A. ('SEXTANT') and INTEGRA Vermögensverwaltungs- und Beteiligungsgesellschaft mbH ('INTEGRA'), a holding company controlled by DIEHL Stiftung & Co (Nuremberg, Germany) ('Diehl'), acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of a newly created company ('NEWCO'). NEWCO shall combine all the activities of the pre-existing Sextant/Diehl joint venture VDO-L as well as the activities of Bodenseewerk Gerätetechnik GmbH ('BGT', a subsidiary of the DIEHL group) in the area of control and navigation systems. After examination of the notification, the Commission concluded that the notified operation falls within the scope of application of Council Regulation No 4064/89 and does not raise serious doubts as to its compatibility with the common market and with the functioning of the EEA Agreement. The combined aggregate world-wide turnover of the undertakings concerned exceeds EUR 5000 million, satisfying the Community dimension threshold under Article 1.2 of the Merger Regulation. The Commission decided not to oppose the notified operation and declared it compatible with the common market and with the EEA Agreement, in application of Article 6(1)(b) of Council Regulation (EEC) No 4064/89.

Pillar: Legal & IP Sovereignty · Authority: Commission of the European Communities · Version: 1.0.0 · Last updated: 2000-08-29

Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32000M2095

SHA-256 integrity: 1320e194e10abeeb0359bc589fb7de777d6c1a7c34dcf339606471c1b79b1fa8

Primary Citations — 8 traced to source

• Paragraph 1: 'On 27.07.2000, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/89 ["the Merger Regulation"] by which the undertakings Thomson-CSF Sextant S.A. ("SEXTANT") and INTEGRA Vermögensverwaltungs- und Beteiligungsgesellshaft mbH ("INTEGRA"), a holding company controlled by DIEHL Stiftung & Co (Nuremberg, Germany) ("Diehl"), acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of a newly created company ("NEWCO").'
• Paragraph 11: 'Pursuant to the Articles of Association of NEWCO, the examination and adoption of business plans and budgets, the taking up or granting loans of more than DM 2 million, investment of more than DM 500,000 shall require the unanimous resolution of the shareholders (i.e. Sextant and the Diehl group, through BGT). As a result, the parties will control NEWCO jointly.'

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