Volkswagen wins EU approval to buy VW Ireland

BRUSSELS, Sept. 26 (Xinhua) -- German carmaker Volkswagen has won approval from the European Union (EU) to buy Volkswagen Group Ireland, an exclusive importer and wholesale distributor of VW, Audi and Skoda cars in Ireland.

After examining the operation, the European Commission, the EU's antitrust watchdog, concluded that the transaction would not significantly impede effective competition in the EU.

Volkswagen develops, manufactures, markets and sells new passenger cars and light commercial vehicles, including related spare parts and accessories.

VW Ireland is a wholly owned subsidiary of O'Flaherty Holdings (OFH). It is the exclusive importer and wholesale distributor of Volkswagen, Audi and Skoda new passenger cars and Volkswagen light commercial vehicles and related spare parts and accessories for such vehicles in Ireland.

The Commission examined the effects of the proposed transaction on the markets for the manufacture and supply of passenger cars, the manufacture and supply of spare parts for passenger cars, the wholesale of spare parts for passenger cars and the manufacture and supply of light commercial vehicles.

Its investigation found the proposed transaction would be unlikely to have any influence on the market position of Volkswagen.