The Service of the Commission for the Protection of Competition on the 6th of August 2008 received on behalf of the company Finmeccanica S.p.A. notification of a proposed concentration according to Article 13 of the Control of Concentration between Enterprises Law (Number 22(I)/99), concerning an agreement by which Finmeccanica S.p.A. will acquire 100% of the issued share capital of the company DRS Technologies Inc.
” Finmeccanica S.p.A.” main activities concentrate in the production and development of airplanes, helicopters, aerospace systems, missile systems, radars, railway transport, technology information systems services.
“DRS Technologies Inc.” operations concentrate on the production and sale of command, control and communication systems, power systems, intelligence technologies, tactical systems, reconnaissance, surveillance and target acquisition systems, substainment systems and technical systems.
On the 11th of September 2008, the Commission for the Protection of Competition, based on the findings of the preliminary investigation of the notified concentration that the Service conducted and submitted to the C.P.C., and acting on the basis of the Law in force, concluded that, even though the concentration comes within the ambit of the law, it does not raise serious doubts as to its compatibility with the competitive market and thus declared compatible with the competitive market.
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