CASE COMMENT : MERGERS - POTENTIAL EFFECTS OF THE OPERATION - POSITION OF ENTITY CREATED - DISTRIBUTORS NEGOTIATING POWER

Notion of merger : The French Minister of Economy clears in phase I without remedies a concentration in the milk sector (Sodiaal/Orlait)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. Facts Candia, a subsidiary of Sodiaal, wishes to acquire exclusive control of Société Orlait following a three-year start-up period, during which the gradual disposal of the first three branches of shares of Orlait will lead to the exercise of joint control. This transaction, which constitutes a concentration within the meaning of the provisions of Article L.430-1 of the French Commercial Code, requires the prior authorization of the Minister of the Economy. Indeed, "when an operation gives rise to joint control during a start-up period, but the existence of legally binding agreements indicates that this joint control will necessarily be replaced by sole

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Dominique Ferré, Notion of merger : The French Minister of Economy clears in phase I without remedies a concentration in the milk sector (Sodiaal/Orlait), 24 August 2006, Concurrences N° 4-2006, Art. N° 27407, www.concurrences.com

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