VW and Dealer Group Hahn & Lang to Buy European Dealerships

BRUSSELS, Feb 16, 2004; Reuters reported that the European Commission on Monday approved plans by two Volkswagen subsidiaries and Hahn & Lang, a car dealer, for a joint venture to buy auto dealerships.

VW's Volkswagen Synko and Auto Synko and Hahn & Lang, all of Germany, plan the venture to purchase Audi Zentrum Stuttgart and Hahn & Lang Automobile and VW Automobile Stuttgart.

Audi Stuttgart and VW Automotible Stuttgart distribute new and used cars and spare parts and accessories. Hahn and Lang already has partial ownership of the Audi and VW dealerships.

"The Commission's examination established that there were no competition concerns in the markets for the production and sale of new passenger cars and of original spare parts," the Commission said in a statement.