Status

Completed

Outcome

Not opposed
on

Reference number

39615

Industry

Motor vehicle manufacturing

Commenced

Total review days

7 days

Acquirer(s)

  • Volkswagen AG

Target(s)

  • Porsche Automobil Holding SE

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.