Press release from the Competition Council regarding the economic concentration project concerning the acquisition by the company « Luxshare Precision Industry Co. Ltd. » of the exclusive control of the division « Automotive Cable Solutions (ACS) » and the joint control of the division « Wiring Systems Division (WSD) » of the company « Leoni AG »

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation, as amended and supplemented, the Competition Council makes available to the public the « summary of the operation » below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• The acquirer: The company « Luxshare Precision Industry Co. Ltd. »;
• The target: The company « Leoni AG ».

Nature of the operation

• Acquisition of exclusive control;
• Acquisition of joint control.

Economic sectors concerned:

• Market for the supply of automotive cable harnesses;
• Market for the supply of automotive cables.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e. November 21, 2024.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council has received notification of an economic concentration operation whereby the company « Luxshare Precision Industry Co., Ltd. » intends to indirectly acquire 100% of the Automotive Cable Solutions (« ACS ») division and 50.1% (plus an additional percentage agreed upon by the parties at any time twelve (12) months later) of the Wiring Systems Division (« WSD ») of « Leoni AG » from the sole shareholder of the Target, « L2-Beteiligungs GmbH ».

Founded in 2004, « Luxshare Precision Industry Co. Ltd. » is listed on the ChiNext Board of the Shenzhen Stock Exchange since 2010 (stock code: 002475). « Luxshare Precision Industry Co. Ltd. » conducts research and development (R&D) activities and engages in the manufacturing and sale of products, particularly in the areas of consumer electronics, communication and data centers, automotive electronics, and health. The automotive sector products of « Luxshare Precision Industry Co. Ltd. » include, among others, high/low voltage cable harnesses, special cable harnesses, charging guns, automotive connectors, intelligent dashboard domain controllers, LCD (Liquid Crystal Display) screens, augmented reality head-up displays, smart driving, smart chassis, CC-CC power supply systems, PDU (Power Distribution Units), MCU (Motor Control Units), and propulsion systems.

« Leoni AG » is a German public limited company. It is a global supplier of products, solutions, and services for energy and data management in the automotive sector. The value chain ranges from standardized cables and special data cables to highly complex wiring systems and associated components, from development to production. In addition to high-voltage cables and cable harnesses, « Leoni AG » also offers special components and charging cables for electric vehicles (Battery Electric Vehicle) and plug-in hybrids.

 

Done in Rabat, November 7, 2024