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30 April 2022

Press Release 04/2022

COMMEO advises Magna International Inc. in a joint venture with LG Electronics in the field of e-mobility

Frankfurt am Main – April 2022 – COMMEO advised the Austrian-Canadian automotive supplier Magna International Inc. on the formation of a joint venture with the South Korean electronic manufacturer LG Electronics Inc. The joint venture LG Magna e-Powertrain was established in July 2021 and is seated in Incheon, South Korea. LG Magna e-Powertrain provides solutions for various electric vehicle parts such as e-drive motors, power conversion devices, and integrated systems. With more than 1,000 employees and several locations worldwide, the joint venture will play an important role in the global transition to e-mobility.

COMMEO advised Magna International Inc. on all aspects related to antitrust issues and merger control, including a merger filing to the EU Commission (case M.10196 – Magna/LGE/JV). In a process lasting approximately 1.5 years, COMMEO also coordinated national merger filings before and after closing of the transaction in 15 jurisdictions worldwide.

COMMEO partner Isabel Oest (lead counsel) acted together with Dr. Jörg-Martin Schultze, Dr. Johanna Kübler and Franziska Lange-Schlüter for Magna International Inc.

COMMEO is a specialized law firm focusing exclusively on competition law. An established team of experienced lawyers advises national and international clients on all aspects of German and EU competition law.