EU Clears Lear to Buy Grupo Antolin Unit

The European Commission has cleared Lear Corp. to acquire the vehicle seating operations of Spanish auto parts supplier Grupo Antolin for €286 million ($306 million).

The companies announced the planned sale of Madrid-based Grupo Antolin-Irausa SA in February. The unit makes seat structures, mechanisms and completed seats for such customers as Daimler, PSA Group, Renault-Nissan and Volkswagen. The deal, expected to be finalized by midyear, includes a dozen factories and two technical centers.

Headquartered in Southfield, Mich., Lear is an $18.6 billion global supplier of automotive seating and electrical components.