Prime Highlights- 

• EU clears Apollo Global Management’s acquisition of Forvia’s Automotive Interiors Business.  

• Deal covers Faurecia units in France, China and the United States.  

Key Facts- 

• Commission found no competition concerns due to limited market overlap.  

• Deal reviewed under the EU’s simplified merger procedure. 

Background- 

The European Commission has cleared the way for investment funds managed by Apollo Capital Management, along with other indirect arms of Apollo Global Management, to take sole control of the Forvia Automotive Interiors Business. Regulators approved the deal under the EU Merger Regulation.

The acquisition brings together three companies under one banner, the Forvia Automotive Interiors Business: Faurecia Interiors Holding in France, Faurecia Automotive Interior System in China, and Faurecia Interior Systems USA in the United States. At its core, the deal centers on automotive interior parts.

The Commission looked at the deal and found no competition concerns, given how limited the companies’ combined market position would be once everything closes.

Since the deal carried few competition risks, regulators moved it through the simplified review track, a quicker path set aside for deals unlikely to shake up market competition.

With approval in hand, Apollo Global Management can now grow its automotive interior parts business, picking up operations in three major markets at once.

The clearance also points to how the European Commission keeps its review process thorough for cross-border deals while still moving fast on ones that don’t put fair competition at risk.

Regulators have given the green light, and Apollo Global Management now has room to grow its position in the automotive supply chain, picking up a wider international presence through its newly acquired interior systems businesses in France, China and the United States.