13/10/2017 (Agence Europe) – On Friday 13 October, the European Commission gave its conditional approval to the planned acquisition of FTE by Valeo, both of which are automotive equipment suppliers. The institution considered that the simple merger of the companies would raise competition problems on the market for passive hydraulic actuator modules and components for light vehicles in the European Economic Area. Valeo therefore proposed to divest its activities in the passive hydraulic actuator modules sector, with the exception of those in Korea, to the Italian supplier of automotive spare parts, Raicam. Subject to this commitment, the Commission found that its concerns over competition had been dissipated and therefore cleared the planned operation. (LT)