The European Commission has cleared under the EU Merger Regulation the creation of Encory GmbH, a joint venture company owned by the automobile company BMW and the Germany-based scrap recycling company ALBA Group plc & Co. KG.
The newly formed company will be tasked with recycling, processing and reselling used automobile parts, as well as with the resale of used car parts.
In approving the venture, the EC determined that the creation of Encory would not raise competition concerns given the limited activities of the joint venture within the European Economic Area. The transaction was examined under the simplified merger review procedure, the EC says.
The two parties initially petitioned the EC about the deal 8 August 2016.
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