Dutch competition authority, Authority for Consumers & Markets (ACM) has cleared the acquisition of Asogem N.V. by Arçelik A.Ş. through its subsidiary Ardutch B.V.
Asogem, which will be acquire by Arçelik, is a distributor of large and small home appliances in the Netherlands and the only importer and distributor of Arçelik's Beko and Grundig brands in Benelux. Asogem also imports electrically heated blankets of the “Dreamland” brand as the sole distributor of Italian Tenacta Srl. Asogem only supplies products to retailers and does not sell directly to end consumers.
As a result of its examination, since the transaction subject to the application would not have a significantly restrictive effect on competition in any market in the Netherlands, ACM approved the proposed acquisition.
(ACM – 10.11.2022)
NAZALI TAX & LEGAL