Germany: Approved acquisition of ESMC by Bosch, Infineon and NXP

On 7 November 2023, the Bundeskartellamt approved the plan presented by Bosch, Infineon and NXP to each acquire 10 percent of the shares in the European Semiconductor Manufacturing Company (ESMC) founded by the Taiwan Semiconductor Manufacturing Company (TSMC). ESMC plans to build and operate another large semiconductor factory in Dresden, in which the three European technology companies will also have a stake. The Bundeskartellamt examined the extent to which the participation of the three European companies in the plant to be built by ESMC could prevent other customers from gaining access to the semiconductor chips. The Bundeskartellamt also investigated the extent to which other contract manufacturers of semiconductor chips would no longer be able to find sufficient customers for certain products as a result of the transaction. The Bundeskartellamt concluded that there were the transaction did not harm competition.