A PYMNTS Company

Siemens & Areva now legally bound to commitments, ending EU probe

By  |  June 18, 2012

After market testing, the European Commission has made Siemens and Areva’s commitments legally binding. The Commission has closed its two-year investigation into the parties’ non-compete obligation after creating Areva NP in 2001, a joint venture active in the nuclear technology market. The original agreement called for an 11-year non-compete term, which extended beyond the term of the joint venture. Furthermore, the obligation prevented Siemens from competing on markets where the joint venture only resold Siemens products.

Siemens and Areva’s commitments cut back the duration of the non-compete and confidentiality clauses. The revised duration is three years following Areva’s acquisition of sole control over the joint venture, for core products and services such as nuclear islands, nuclear services or fuel assemblies. The non-compete and confidentiality obligations are to be eliminated for all other products and services.

Full content: EC Press Release

 

Related content: Settlements of EU Antitrust Investigations: Commitment Decisions under Article 9 of Regulation No 1/2003

 

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.