The European Commission has approved, under the EU Merger Regulation, D’Ieteren’s acquisition of PHE. The approval is conditional on full compliance with commitments offered by D’Ieteren.
Executive Vice-President Margrethe Vestager, in charge of competition policy, said “More than 90% of French motorists buy glass breakage insurance, and more than 3 million windshields are repaired each year. Lack of competition on this market could therefore result in higher insurance premiums for all consumers. D’Ieteren and PHE are both leading providers of vehicle glass repair and replacement services in France. With the divestments approved today, the parties will be able to bring together their activities in the automobile repair and spare parts sectors, while ensuring that the transaction will not have a harmful impact on French motorists.”
D’Ieteren is active, through its subsidiary Belron, in the repair and replacement of vehicle glass in a number of Member States, including in France.
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