IP/06/1298
Brussels, 2nd October 2006
Mergers: Commission approves planned acquisition of O.Y.L by Daikin The European Commission has cleared under the EU Merger Regulation the proposed acquisition by Japan’s Daikin of the Malaysian company O.Y.L. After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it. Daikin manufactures and markets air conditioning systems. It also sells chemicals, defence systems, electronics, refrigerated containers, oil hydraulics, and semiconductor divisions. O.Y.L. is a company active in the production of air-conditioning systems as well as heating and ventilating systems.
Both companies are active in the marketing of air conditioning systems across the EEA. The market investigation confirmed that O.Y.L. has limited activities in Europe and that the planned transaction would have no significant Europe-wide impact on the markets on which Daikin is active. The Commission also examined the parties’ positions in each EEA country. Even though the new company would have a relatively strong position in a number of these countries, the market investigation showed that Daikin would continue to face strong competitors in each of them. The Commission has therefore concluded that the proposed transaction would not give rise to any significant reduction of competition. More information on the case will be available at:
http://ec.europa.eu/competition/mergers/cases/index/m85.html#m_4271
