The Competition Commission of Singapore ceases investigations into a non-compete clause following a voluntary agreement not to enforce the clause (F&N / Heineken)

On 4 November 2013, the Competition Commission of Singapore (the “CCS”) issued a media release confirming that it had ceased its investigations into a non-compete clause contained in the Share Purchase Agreement relating to the completed acquisition by Heineken International B.V. (“Heineken”) of Asia Pacific Breweries Limited (the “Acquisition”). The CCS issued no formal decision in respect of its investigation, which was ceased following negotiations and without any finding of liability against, nor any admission of liability by, any of the parties to the Acquisition. The CCS’ media release contains only very brief details of the investigation and the relevant issues. However, certain details regarding the matter may be discerned from the media statement of Fraser and Neave, Limited

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Kirstie Nicholson, The Competition Commission of Singapore ceases investigations into a non-compete clause following a voluntary agreement not to enforce the clause (F&N / Heineken), 4 November 2013, e-Competitions November 2013, Art. N° 64203

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