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IP/09/1162

Brussels, 17 th July 2009

Mergers: Commission approves proposed acquisition of Saeco by Philips

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the Italian company Saeco International Group S.p.A (SIG) by Koninklijke Philips Electronics N.V. of The Netherlands. The Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.

Philips is a global company active in the research, development, manufacture and sale of a wide range of electronic products, including consumer electronics, domestic appliances, lighting products and medical systems. SIG is a manufacturer of coffee machines for domestic and professional use under the brand names Saeco, Gaggia and Spidem and of vending machines. The parties' activities overlap only in the market for domestic coffee machines.

The Commission's examination of the proposed transaction showed that the products of the two companies do not compete closely with each other and that the combined firm would continue to face several strong competitors with significant market shares.

The Commission's investigation also found that the merged entity would have neither the ability nor the incentive to close off the market to competing coffee maker manufacturers.

The Commission therefore concluded that the proposed concentration would not raise competition concerns.

More information on the case will be available at:

http://ec.europa.eu/competition/mergers/cases/index/m110.html#m_5547


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