2003/79/EC: Commission Decision of 25 July 2001 declaring a concentration to be compatible with the common market and the EEA Agreement (Case No COMP/M.2333 — De Beers/LVMH) (Text with EEA relevance) (notified under document number C(2001) 2365)

Article 2
This Decision is addressed to: Riverbank (De Beers) 17 Charterhouse Street London EC1N 6RA United Kingdom, Sofidiv (LVMH) 15 St George Street London W1R 9DE United Kingdom.
Done at Brussels, 25 July 2001.
For the Commission
Mario Monti
Member of the Commission
(1) OJ L 395, 30.12.1989, p. 1 (Corrigenda: OJ L 257, 21.9.1990, p. 13).
(2) OJ L 180, 9.7.1997, p. 1.
(3) OJ C 27, 5.2.2003, p. 8.
(4) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(5) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(6) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(7) Turnover calculated in accordance with Article 5(1) of the Merger Regulation and the Commission Notice on the calculation of turnover (OJ C 66, 2.3.1998, p. 25). To the extent that figures include turnover for the period before 1 January 1999, they are calculated on the basis of average ECU exchange rates and translated into EUR on a one-for-one basis.
(8) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(9) Formerly known as the Central Selling Organisation.
(10) De Beers has since stopped making these open market purchases in order to minimise the risk that the diamonds it sells are sourced from so-called "conflict regions".
(11) For example, the diamond jewellery retailer Tiffany has recently established a joint venture with a mining company the terms of which allow Tiffany to be supplied directly a proportion of the mine's output of rough diamonds. Tiffany will contract in diamond polishers to process the rough diamonds.
(12) 1 point= 0,01 carats.
(13) Rapids World will be expressly forbidden from purchasing polished diamonds from any De Beers owned company.
(14) Form CO, Section 6.B.1.
(15) Form CO, Section 6.E.3.1.
(16) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(17) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(18) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(19) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(20) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(21) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(22) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(23) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(24) Form CO, Annex 7.3/1, Table 4 - Estimated Share of Production by Mine, 1995 to 2000.
(25) The data did not identify which the non-De Beers mines were.
(26) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(27) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(28) Based in Antwerp, Israel, India, Hong Kong and South Africa.
(29) The polished division has sales offices in London, Antwerp, Israel, Hong Kong and Russia.
(30) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(31) Which have been notified separately to the Commission (Case COMP/E-2/38139).
(32) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(33) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(34) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(35) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(36) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(37) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(38) Thereby effectively eliminating dealers and reducing the pipeline somewhat.
(39) De Beers Confidential Information Memorandum in respect of Project Rapids Joint Venture, Rothschild July 2000, page 7.
(40) De Beers Confidential Information Memorandum in respect of Project Rapids Joint Venture, Rothschild July 2000, page 31.
(41) Op. cit., The De Beers Brand, page 31 to 51.
(42) Op. cit., page 33.
(43) Op. cit., page 33 and 34.
(44) Op. cit., page 36.
(45) Op. cit., page 37 and 38.
(46) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(47) Op. cit., page 41.
(48) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(49) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(50) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with anasterisk.
(51) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked withan asterisk.
(52) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(53) Op. cit., page 44.
(54) Op. cit, page 45.
(55) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(56) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(57) Project Rapids Business Plan, 15 December 2000, Executive Summary 1.
(58) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(59) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(60) De Beers Confidential Information Memorandum in respect of Project Rapids Joint Venture, Rothschild July 2000, page 32.
(61) Project Rapids Business Plan, 15 December 2000, Executive Summary 5.
(62) Idem.
(63) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(64) Project Rapids Business Plan, 15 December 2000, Appendix 15.3.
(65) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(66) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(67) Op. cit., De Beers Institute, 8.1, 8.2.
(68) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(69) De Beers Confidential Information Memorandum in respect of Project Rapids Joint Venture, Rothschild July 2000, page 61.
(70) Joint Press Release, 16 January 2001.
(71) LVMH Annual Report 1999, page 8.
(72) Op. cit., page 7.
(73) Idem.
(74) Idem.
(75) Idem.
(76) Op. cit., page 9.
(77) Op. cit., page 21.
(78) Op. cit., page 6.
(79) Op. cit., page 21.
(80) Op. cit., page 6.
(81) Op. cit. pages 4 to 6.
(82) Joint Press Release, 16 January 2001.
(83) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(84) De Beers Confidential Information Memorandum in respect of Project Rapids Joint Venture, Rothschild July 2000, page 8.
(85) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(86) Project Rapids Business Plan, 15 December 2000, Executive Summary 3.
(87) Op. cit. page 4.
(88) Datamonitor Luxury Goods 1998, Jewellery, pages 66, 68, 69, 73, 75 percentage based on value.
(89) Op. cit., page 64 percentage based on value.
(90) Op. cit., page 78 percentage based on value.
(91) Op. cit., pages 66, 68, 73, 75 percentage based on value.
(92) Datamonitor Luxury Goods 1998, Jewellery, page 64.
(93) Op. cit., pages 66, 69, 76, 79.
(94) Op. cit. pages 71, 73.
(95) Project Rapids Business Plan, 15 December 2000, Executive Summary 2, op. cit. page 2.
(96) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(97) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(98) Idem.
(99) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(100) Op. cit. page 13.
(101) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(102) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(103) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(104) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(105) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(106) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(107) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(108) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(109) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(110) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(111) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(112) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(113) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(114) Op. cit. page 11.
(115) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(116) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(117) Project Rapids Business Plan, 15 December 2000, Financial Projections, Financial Summary.
(118) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(119) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(120) Op. cit, Summary Financial Statements.
(121) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(122) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(123) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(124) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(125) The DTC will increase expenditure on its global generic marketing campaigns to drive overall consumer demand for diamonds. It will invest approximately USD 180 million in consumer marketing campaigns in 2001 using the world famous strapline "A Diamond is Forever". Joint Press Release, 16 January 2001.
(126) Shareholders' Agreement, page 83.
(127) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(128) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(129) Parts of this text have been edited to ensure that confidential information is not disclosed; those parts are enclosed in square brackets and marked with an asterisk.
(130) Joint Press Release, 16 January 2001.
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