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German cartel office probes Continental Veyance deal
May 26, 2014 / 10:22 AM / 3 years ago

German cartel office probes Continental Veyance deal

FRANKFURT, May 26 (Reuters) - Germany’s cartel office on Monday said it had launched an in-depth assessment of German auto parts maker Continental AG’s planned takeover of U.S. rubber firm Veyance Technologies.

The probe is expected to run until at least Aug. 25 and will evaluate the potential market impact of the deal, a spokesman for the cartel office said.

In February, Continental said it had agreed to buy Veyance for 1.4 billion euros ($1.92 billion) as a way to help diversify its business. (Reporting by Matthias Inverardi, writing by Edward Taylor)

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