Volkswagen's acquisition of Germany's Mango Approved by European Commission

According to Reuters, on September 26, 2011, Volkswagen received anti-trust approval from the European Commission, clearing the way for its complete acquisition of truck manufacturer MAN SE.

The European Commission said in a statement that the transaction was not found to have caused any fluctuations in the competitive situation, confirming Reuters’s report last week. The executive director of the European Commission said: “After the Commission’s investigation and the completion of the merger and acquisition, the European heavy truck and passenger car market will remain competitive.”

On May 31, 2011, Volkswagen Motor Corporation submitted a formal offer to Mannequin, a truck manufacturer. In early July of this year, Volkswagen AG stated that the company has successfully acquired a 55.9% stake in German truck manufacturer Mann. On August 23, Volkswagen filed an antitrust approval application with the European Commission, requesting approval of its takeover and takeover of Mann.

Volkswagen will further promote the merger of its truck manufacturer Scania and Man to form a large-scale commercial vehicle manufacturer and compete with German Daimler, Sweden's Volvo Trucks and Italian Iveco in the truck business; Daimler, Iveco, VDL and Polish Solaris compete.