The EU Commission approves, subject to remedies, an acquisition in the spirits and wine sector (Pernod Ricard / Diageo / Seagram)

"Merger control: main developments between 1 May and 31 August 2001"* In May, the Commission approved the acquisition by Pernod Ricard SA of France and British-based Diageo Plc of the world-wide spirits and wine business of the Seagram Company Ltd Canada from France’s Vivendi Universal SA. According to a Framework Agreement agreed between the acquiring parties, most important brands and assets of Seagram will be divided between Pernod Ricard and Diageo while a number of other brands and assets will be sold to third parties within a defined time period. The Commission’s clearance is conditional on the fulfilment of the said agreement, the sale of the ‘Four Roses’ Bourbon whiskey brand to a