Dr. Ing. h.c. F. Porsche Aktiengesellschaft; Custom Cells Itzehoe GmbH; P3 group GmbH

On 31.03.2021 the Austrian Federal Competition Authority was notified of the following merger:

Planned purchase process

Dr. Ing. h.c. F. Porsche Aktiengesellschaft in consultation with Custom Cells Itzehoe GmbH and P3 group GmbH intend to create a joint venture for the purpose of development, production and distribution of high-performance battery cells under the legal form of a German private limited company (GmbH) and with the legal name “Cellforce Group GmbH”. Porsche shall hold 71.50%, Customcells 14.25% and P3 group 14.25% in the joint venture. Porsche is an indirect 100%-subsidiary of Volkswagen Aktiengesellschaft. 67.3% of Customcells’s shares are held by its founders Torge Thoenessen and Leopold König and the remaining 32.7% by P3 group. P3 group is controlled by its founder Christoph Theis.

Industry sector: C - Verarbeitendes Gewerbe/Herstellung von Waren

Deadline for bringing in an application pursuant to § 11(1) Cartel Act will end on 28.04.2021.

Entrepreneurs whose legal or economic interests are affected by the merger can bring in a written statement at the Federal Competition Authority or the Federal Cartel Prosecutor within 14 days from publication date.

Note: The intervening party has no right to a certain treatment of the statement and will not gain a party position.

Withdrawal of the Merger Application: The Applicant withdrew the Merger Application on 13.04.2021.

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