BERLIN (Reuters) – Germany’s cartel office has approved Porsche AG’s acquisition of a non-controlling interest in Varta as well as a majority of shares and sole control of the battery maker’s business unit for lithium-ion cells for electric cars.
“Our merger control review was only concerned with whether the transaction would give rise to competition concerns,” said cartel office president Andreas Mundt. “The actual feasibility of the solution now depends on issues outside of antitrust law.”
Varta will remain a minority shareholder in the unit for large-format lithium-ion cells for EVs, V4Drive Battery GmbH.
(Writing by Miranda Murray; editing by Matthias Williams)
