Brussels, 23/11/2004 (Agence Europe) - The European Commission has authorised the proposed acquisition of Aprilia by Piaggio, the fourth largest European moped and scooter producer. There were serious doubts that competition might be reduced with engines up to 50cc but Piaggio allayed these doubts by offering to supply its most advanced 50cc engine to all producers that express an interest. Piaggio has a market share of 10% in the EU, behind the market leaders Honda and Yamaha, both with around 18%, and Suzuki with 12% but is the European market leader in the scooter segments. Piaggio's main brands are “Piaggio”, “Vespa”, “Gilera” and “Derbi”, whereas its future partner are Aprilia and Guzzi.
The Commission's investigation concluded that in all the countries of the EU other than Italy, as well as in Italy with respect to the market for scooters above 50cc, no competition concerns arise from the operation. Aprilia is not a major player outside Italy and the other manufacturers have a marketing force and distribution network that is already sufficient to support a strong brand image, the Commission notes. On the other hand, the Italian market is relatively small and has shrunk considerably in the past ten years, catering for a very specific group of consumers (teenagers between 14 and 16 years of age). With their well-known brands, the merger between the market leader and the number two company would attribute a large market share to the new entity. By proposing to provide its 4-stroke 50cc engines to other competitors, Piaggio meets conditions sufficient to safeguard competition on the market, the Commission states.