Croatia’s competition authority said it has conditionally approved the planned takeover of Renault Nissan’s local unit by Grand Automotive LLP/Grand Automotive RD.
Grand Automotive LLP is an authorised distributor of Hyundai, Nissan and Ford new motor vehicles in Croatia. In the post-merger period Grand Automotive LLP will transfer its shares in Renault Nissan Croatia to a special purpose vehicle under its control, Grand Automotive RD, the antitrust body, AZTN, said in a press release last week.
Read more: Nissan And Renault Shelve Merger Plans
Renault Nissan Croatia is an authorised distributor of Renault, Dacia and Nissan brands in the country.
This concentration can only be allowed subject to remedies that would eliminate anti-competitive effects of the concentration in the market for the sale of original spare parts for motor vehicles of the Hyundai, Ford, Renault, Nissan and Dacia brands as well as in the market for the provision of repair and maintenance services for these brands in Croatia, AZTN said.
According to data from the Croatian court registry, the commercial court in Zagreb on October 6 registered Israel-based Grand Automotive RD as sole owner of Renault Nissan Croatia. Prior to that, its owner was French automotive company Renault.
