Commission Decision of 13/02/2003 declaring a concentration to be compatible with the common market (Case No IV/M.3087 - PENSKE / DAIMLERCHRYSLER / VM MOTORI JV) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) Official Journal 045 , 25/02/2003 P. 0007 - 0007 Commission Decision of 13/02/2003 declaring a concentration to be compatible with the common market (Case No IV/M.3087 - PENSKE / DAIMLERCHRYSLER / VM MOTORI JV) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) To the notifying parties via the legal representative Dear Madam(s) and/or Sir(s), Subject:
Case No. COMP/M.3087 - Penske/DaimlerChrysler/VM Motori Notification of 13.01.2003 pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 [1] Publication in the Official Journal of the European Communities No. C 14 of 21.01.2003 [1] OJ L 395, 30.12.1989 p. 1; corrected version OJ L 257 of 21.9.1990, p. 13, as last amended by Regulation (EC) No 1310/97, OJ L 180, 9.7.1997, p. 1, corrigendum in OJ L 40, 13.2.1998, p. 17. 1. On 13.01.2003, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/891 by which the undertakings Penske Group, through its wholly-owned subsidiary Penske Corporation ("Penske" - USA), and DaimlerChrysler AG ("DaimlerChrysler" - Germany) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the Italian undertaking VM Motori S.p.A.
("VM Motori"), a subsidiary of the US-based Detroit Diesel Corporation ("Detroit Diesel"), currently solely controlled by DaimlerChrysler by way of purchase of shares. 2. The business activities of the undertakings concerned are : - for Penske : car dealership, car and truck rental and leasing, fleet management, automobile racing, products for automotive usages; - for DaimlerChrysler : automotive and aerospace industries, financial services, power systems; - for VM Motori : automotive industry. 3. After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No.
4064/89 and of paragraph 4, subparagraph c, of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EEC) No 4064/89 [2]. [2] OJ C 217, 29.07.2000, p. 32. 4. For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EEC) No. 4064/89. For the Commission Signed by Mario MONTI Member of the Commission