EU approves D'Ieteren acquisition of PHE, SUBJECT TO CONDITIONS
02/08/2022 15:15
BRUSSELS, Aug 2 (Reuters) - The European Commission said on
Tuesday it had approved D'Ieteren's acquisition of PHE under on
condition that the buyer complies fully with merger commitments
it offered.
Belgium-based D'Ieteren and PHE, based in France, are both
leading providers of vehicle glass repair and replacement
services in France.
"More than 90% of French motorists buy glass breakage
insurance, and more than 3 million windshields are repaired each
year," Magrethe Vestager, European Commisioner in charge of
competition policy, said in a statement. "Lack of competition on
this market could therefore result in higher insurance premiums
for all consumers."
She said that with divestments offered by D'Ieteren, the two
companies could bring together their repair and spare parts
activities without having a harmful impact on French motorists.
(Reporting by Charlotte Van Campenhout)
((Charlotte.VanCampenhout@thomsonreuters.com;))