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Bucharest
January 28, 2021
BUSINESS

Michelin Group takes over IHLE Holding AG

The Competition Council (CC) has authorized Michelin Group’s request to take over tire distributor IHLE Holding AG, the transaction being already announced in Germany, Austria, France, Hungary and the Czech Republic, the CC announced on Tuesday in a communiqué. As a result of this authorization, Michelin Group, through Michelin Finanz Gesellschaft fur Berteiligungen AG & OGH (Germany), takes over IHLE Holding AG (Germany) in order to have access to the whole distribution chain.

“The Competition Council has assessed the economic concentration operation from the point of view of its compatibility with the normal competitive environment and has noted that it does not raise significant obstacles in the path of competition on the retail distribution market for new tires for auto vehicles and vans,” the aforementioned communiqué reads.

Michelin Group is mainly active in the production, distribution and retail sale of tires, as well as in the domain of offering tourism products.

Michelin Finanz Gesellschaft fur Beteiligungen AG&OGH owns two branches in Romania: SC Michelin Romania SA and SC Euromaster Tyre & Services Romania SA. At the same time, IHLE Holding AG owns a single branch, namely SC IHLE Anvelope SRL.

IHLE’s activity mainly consists of the distribution of tires for auto vehicles, vans or trucks to car workshops, gas stations, retail tire traders, auto dealers as well as on internet platforms.

 

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