Volkswagen AG - proposed acquisition of Porsche Automobil Holding SE & Porche AG
Type of assessment
Informal Review
Reference
39615
Acquirer(s)
Volkswagen AG
Target(s)
Porsche Automobil Holding SE
Industry
Motor vehicle manufacturing
Outcome of assessment
Not opposed
Total review days *
7
Commenced public review
4th November 2009
Date completed
12th November 2009
Market definition
While the ACCC did not consider it necessary to reach a definitive view on market definition in this matter, the ACCC considered the proposed acquisition in the context of national markets for the manufacture and supply of luxury motor vehicles.
Competition analysis
The ACCC noted that the proposed acquisition would have a neutral effect on competition, since it represented an internal restructure following Porsche's acquisition of a 51% controlling interest in Volkswagen in 2008.
The ACCC formed the view that the proposed acquisition was unlikely to substantially lessen competition in any relevant markets. Factors informing this conclusion included:
- the vast majority of luxury motor vehicles are imported into Australia; and
- the merged entity would continue to be constrained by the various alternative suppliers of luxury motor vehicles in Australia.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
