98/455/EC: Commission Decision of 3 December 1997 relating to a proceeding pursuant to Council Regulation (EEC) No 4064/89 (Case No IV/M.942 - VEBA/Degussa) (notified under document number C(1997) 3833) (Only the German text is authentic) (Text with EEA relevance)

• CELEX: Regulation (EEC) No 4064/89
• Articles: 4

Article 1

The concentration between Veba and Degussa is hereby declared compatible with the common market and with the EEA Agreement, subject to compliance with the condition set out in Article 2.

Article 2

This decision is subject to the condition that Veba complies with the following undertakings:

(a) Veba's stake in Cabot Hüls GmbH shall be sold by [ . . . . . . . . . . ] at the latest to a buyer which does not belong either to the Veba group or to the Degussa group, or in which Veba and/or Degussa have no interest, and with which there is no relevant cross-tenure of directorships.

(b) If there has been no such disposal as referred to in point (a) by the date given there, Veba shall transfer all its voting and management rights to a neutral and independent trustee. The appointment of the trustee shall be approved by the Commission.

(c) The trustee shall be given an irrevocable mandate to dispose of Veba's shares by [ . . . . . . . . . . ] at the latest to a buyer which does not belong either to the Veba group or to the Degussa group, which has no capital holding in either Veba or Degussa, and with which there is no relevant cross-tenure of directorships.

Article 3

Veba is hereby instructed to report to the Commission at the beginning of every month on the steps taken to give effect to the undertaking described in Article 2.

Article 4

This Decision is addressed to:

Veba AG

Bennigsenplatz 1

D-40474 Düsseldorf.

Done at Brussels, 3 December 1997.

For the Commission

Karel VAN MIERT

Member of the Commission

(1) OJ L 395, 30. 12. 1989, p. 1 (corrigendum: OJ L 257, 21. 9. 1990, p. 13).

(2) OJ C 224, 17. 7. 1998.

(3) In the published version of this Decision, some information has been omitted or replaced by ranges, pursuant to Article 17(2) of Regulation (EEC) No 4064/89 concerning non-disclosure of business secrets.